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Standard Life announces half year results for 2014 in Asia and Emerging Markets

August 5, 2014

Operating profit before tax up to GBP 6 million (H1 2013: loss of GBP 1 million) driven by reduction in losses in wholly owned operations and increase in profit from joint venture businesses to GBP 9 million (H1 2013: GBP 5 million).

Wholly owned business benefited from growth in new business and continued diversification of revenue.

HDFC Life continues to lead the private market by net flows and has made a strong start to this year ranking number one by gross sales in the private market.

Alan Armitage, CEO, Asia and Emerging Markets, Standard Life, said: "Our customer base across Asia and Emerging Markets grew by 12 percent in the first six months of the year as we continue to enhance our business model to be more customer centric.

"We are focused on building a sustainable business across our markets. Through Standard Life Investments' expertise and increased collaboration across the group, we are delivering efficiencies and ensuring we are well-placed to benefit from the changes in the regulatory landscape in the regions in which we operate.

"We are well positioned to drive forward our ambitions and become a leading retail savings and investment business in our chosen markets."

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Source: CPI Financial

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