Standard Life takes a stake in Simply Biz

This is the second such shareholding for the life insurer, following the acquisition in July 2005 of a stake in Tenet as a “significant minority shareholder”. Trevor Matthews, chief executive of Standard Life, says the deal is part of its continued distribution strategy development. “This is another important step in the ongoing development of our business and we are delighted to be associated with a company of Simply Biz’s standing in the industry. Given the quality of their proposition, management team and track record of delivery we believe this represents an excellent investment. W...