Standard Life UK life and pension sales plunge 10%

Shares in the Edinburgh-based company climbed 4.1% to 205.8p in early trade. Over the year ending December 31, Standard Life reported a 7% fall in worldwide life and pensions new business. Disappointing UK results have weighed heavily on its all round figures, with the company citing poor market conditions for the UK life and pensions dip to £10.1bn, compared to £11.3bn in 2008. Against this, UK net inflows increased 43% to £1.2bn, compared with £0.8bn in 2008. Net inflows in the fourth quarter were nearly four times higher than Q3. The Scottish insurer says it has continued to ...