Standard Life has just announced it will stage a demutualisation vote in 2006 as the firm believes it IS in the best interests of the company and its policyholders.
Latest update on its strategic review states while the firm has a strong financial position - with realistic balance sheet of £4.6bn or more than twice the FSA-required risk capital margin - directors at the mutual insurer believe it is in the best interests of all concerned to raise additional capital for the future of the company through a stock market listing. As a result of its initial decision, the board of directors will now alter processes and structure within the firm so it can present a demutualisation vote to eligible members before the 2006 AGM. Moreover, the "three-year wa...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
