Pension News Standard Life Sales Show Half Year Increase

Written by Editorial Team

09 August 2007

Sales figures at life assurance firm Standard Life have shown a significant gain over the first six months of 2007, it has been reported.

Figures from Bloomberg show a 31 per cent increase in overall sales, primarily driven by a 49 per cent hike in pension sales.

It added that business has gone up to £8.8 billion this year against £6.24 billion last year and marks a level above the £7.87 billion analysts had forecast.

The company has suggested that a “shift in the product mix” is responsible for the performance, although it may be down to the 12 per cent workforce reduction to be implemented by 2009.

“We have enjoyed great success with a range of asset accumulation products, delivering higher sales at an increased overall margin,” said chief executive officer Sandy Crombie.

Standard Life was founded in 1825 and its headquarters can be found in Edinburgh, Scotland.

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