Standard Life's UK life and pensions sales plummeted 20% in Q4 last year as a result of "challenging" second-half market conditions.
The company recorded £2.92bn in Q4 UK life and pensions sales, down from £3.65bn for the same period last year. Worldwide life and pension sales dipped 14% in Q4, down to £4.02bn from £4.66bn in the same period in 2006. It was better news for 2007 as a whole, with Standard Life UK life and pensions sales climbing 15% to a record £13.17bn, from £11.44bn in 2006. Worldwide life and pensions sales jumped 12% to £16.31bn. Standard Life Investments also confronted some difficulties in Q4, with the markets stripping £357m off the value of its worldwide investment product funds under managem...
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