Lib Dems call for Standard to remain mutual - papers 24th April

According to the paper, the Edinburgh insurance giant said last week that its 2.4 million policy-holders would receive an average pay-out of £1,700 if they vote for the conversion. Standard Life plans to float on the stock-market in July, a move expected to value the company at up to £5.5bn. But Dr Cable, a former economics lecturer at Glasgow University, warned the move may not be in the best long term interests of members, who have already seen the value of their policies fall. He said the board of Standard Life had been extolling the benefits of remaining mutual until relatively rece...