Standard Life plc SL. Canada Transactions

  Standard Life plc (SL.) - Canada Transactions

RNS Number : 1901R
Standard Life plc
15 November 2012




                              Standard Life plc



Standard Life  announces  disposal  of two  properties  and  renegotiation  of 
reinsurance arrangement in Canada



Standard Life  plc today  announces  that its  subsidiary, The  Standard  Life 
Assurance Company of Canada, has disposed of two office properties (subject to
final registration), located in Western Canada, and separately renegotiated an
existing reinsurance  arrangement.  These  transactions  will  contribute  to 
operating profit before  tax for  the year ending  31 December  2012 with  the 
aggregate  one-off   contribution  of   the   transactions  expected   to   be 
approximately £75m on completion.



Jackie Hunt, Chief Financial Officer, commented today: "At Standard Life,  our 
focus is  on maximising  the  value of  shareholder  assets and  driving  more 
effective management of liabilities. We have today announced transactions  in 
Canada that reflect that focus. We have taken advantage of significant demand
in the market for premier  quality investment properties across Canada,  while 
at the same time reducing shareholder exposure to property as an asset class.
Separately, the renegotiation of an existing reinsurance arrangement has  also 
helped to improve  the risk profile  of our business  while having a  positive 
impact on both  capital and  operating profit.  We will  continue to  explore 
further management actions.  Excluding these two  transactions, our  Canadian 
business continues to trade in line with expectations."



15 November 2012



For further information please contact:



Jakub Rosochowski, Investor Relations Senior    44 (0)131 245 8028/ 44 (0)7515
Manager                                         298 608
Craig Cameron, Investor Relations Analyst       44 (0)131 245 3848/ 44 (0)7515
                                                298 330
Nicola McGowan, Senior Media Affairs Manager    44 (0)131 245 4016/ 44 (0)7872
                                                191 341







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MSCGLBDBBSBBGDU -0- Nov/15/2012 07:01 GMT