Summary
STANDARD Life yesterday shrugged off a near 50 per cent decline in sales of individual pensions in the first nine months of the year as it continued to push its higher-margin products - a key part of its plans to float on the stock market in 2006.
The one-time bread and butter of insurance companies delivered just GBP 101 million of revenues in the period to the end of September, down from more than GBP 190m last year. Meanwhile, the new self-invested personal pension product more than trebled sales to GBP 88m.See the full content of this document
Extract
Standard Life Pension Sales Slump
The group said its third quarter had been tougher than the nine months as a whole, as price competition intensified. ...
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