STANDARD LIFE yesterday confirmed it has started to see a number of its with-profits policyholders cash in their plans after receiving windfalls from the group's flotation, reports The Scotsman .
But according to the paper, the Edinburgh-based insurance giant refused to be drawn on the number of policyholders involved or the average amount paid out in surrenders. The news came ahead of the release of the group's latest new business figures today. Provisions for the expected surrenders were made in the group's flotation prospectus, where it was revealed £19m would be made available to help fund the withdrawals. A spokesman for Standard Life said: "The numbers of clients surrendering their policies are entirely in line with expectations.” ROGER BARTLEY, a senior fund manage...
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