Standard Life puts focus on non-commission based new business

He said some products and distribution methods soak up much more capital than others, such as in commission payments. This can hold up the release of cash for dividend payments and other purposes. “So our focus is on generating more new capital-lite business to enable us both to grow, and to release cash earlier. Our newer market-leading propositions, like SIPP and Wrap, were designed this way from scratch,” Crombie said. He also told shareholders Standard Life had been successful in developing new distribution channels as it is unable to reach all the customers it used to through the...