Standard Life's profits have fallen 15% in H1 2015 as it suffered a 66% reduction in annuity sales from last June as a result of the pension freedoms.
In its interim results published today the insurer reported that revenues from UK annuities decreased by 49% to £40m in the six months to 30 June compared to last year. It expects annuity sales...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
