Standard Life is aiming to become one of the three largest players in the lucrative offshore investment market within three years, generating some £800 million-worth of business, according to a report from The Scotsman this morning.
The paper says the life insurance giant, which opened its Dublin-based international operation only last month, has set its sights on taking a 20% share of the £4bn UK offshore sector by the end of 2008. That would amount to some 5% of the Edinburgh-based group's overall sales, but close to 10% of its profits, due to higher margins. Murray Drummond, chief executive of Standard Life International, told The Scotsman: "In the first year, our sales are not likely to be a huge part of the overall business. "But if we achieve the kind of position we want within three years ...
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