Standard Life's decision to put forward the option of demutualisation to its policyholders is being closely watched by Royal London, although the latter maintains the view that its competitor's problems are company specific.
Royal London, which becomes the biggest mutual if Standard Life does demutualise, remains committed to the principles of mutuality and has the financial strength to take advantage of a forecast growing market, says head of communications Alasdair Buchanan. The view was first put forward in January, when the FSA publicly acknowledged it was helping Standard Life sort out its realistic balance sheet. ”We said then [in January] that the issues were company specific and our position remains the same,” he says. ”There is no reason for radical change to our business plan.” Still, Buch...
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