Standard Life reports good first quarter results in Canada

Note: All figures are based on IFRS and are shown in Canadian dollars. 


      All comparisons are with the corresponding period of 2012, unless
      otherwise stated.
    --  Premiums and deposits increased by 11.6% to $1.6 billion
    --  Assets under administration grew by 9.7% to $46 billion
    --  A solvency ratio of 262%



MONTREAL, April 24, 2013 /CNW Telbec/ - Standard Life Financial Inc. 
("Standard Life") today reported premiums and deposits rose 11.6% to 
$1.6billion (2012: $1.4 billion). The business delivered steady growth in 
its group savings and retirement business and a slight increase in its group 
benefit and disability management business. Figures for the retail savings and 
investment solutions performed in line with last year. Assets under 
administration were up by 9.7% to $46 billion (Q1 2012: $42 billion); an 
increase of 2.8% from $45 billion at 2012 year end.

Charles Guay, President of Standard Life, said: "Our quarterly performance 
shows we continue to build momentum. We are delivering on our value-added 
solutions to customers and are well positioned to benefit from the growing 
pension market in Canada. We continue to focus on actions to increase the 
profitability and lower the level of risk in our business."

Group savings and retirement premiums and deposits rose to $892 million (2012: 
$730 million), representing an increase of 22.2%. The company also secured 
interest in its recently launched Pension in a Box: a simple, flexible 
solution for small and medium sized enterprises.

Group benefits and disability management premiums grew by 3.5% to $182 million 
(2012: $176 million). Most of the increase was driven by disability management 
solutions. To meet the growing demand for health risk evaluation tools and 
workplace health programs, the company also enhanced its life health and 
wellness offering.

Premiums and deposits for retail savings and retirement solutions were in line 
with last year at $466 million (2012: $467 million). Standard Life's Ideal 
Segregated Funds remained popular with investors with premiums and deposits up 
6.5% to $316million (2012: $297 million). Excluding the discontinued Ideal 
Income Series guaranteed lifetime withdrawal benefit product, segregated funds 
increased 27.4% to $313 million (2012: $245 million). Mutual fund sales 
decreased by 14.5% to $104 million (2012: $121 million).

Solid capital position
At March 31, 2013, Standard Life Financial's primary operating subsidiary, The 
Standard Life Assurance Company of Canada, reported a strong solvency ratio of 
262% (December 2012: 277%) following a payment of a dividend in the quarter.

Outlook
The outlook for the Canadian economy remains steady and Standard Life is 
confident in its growth prospects for the remainder of 2013. It will maintain 
its focus on its three core business segments:
    --  Group defined contribution retirement plans
    --  Disability prevention and management services for employers
    --  Retail investment funds

Forward-looking statements
This press release may contain forward-looking statements about certain of 
Standard Life's current plans, goals and expectations relating to future 
financial conditions, performance, results, strategy and objectives. 
Statements containing the words: 'believes', 'intends', 'expects', 'plans', 
'seeks' and 'anticipates' and any other words of similar meaning are 
forward-looking. All forward-looking statements involve risk and uncertainty 
because they relate to future events and circumstances beyond Standard Life's 
control. As a result, Standard Life's actual financial condition, performance 
and results may differ materially from the plans, goals and expectations set 
out in the forward-looking statements. The company will not undertake any 
obligation to update any of the forward-looking statements in this press 
release or any other forward-looking statements that it may make.

Notes to Editors

  1. Premiums and deposits is a non-IFRS measure. Standard Life
     includes in its calculation deposits from segregated and mutual
     funds, and premium equivalents of administrative services only


 (ASO).
  2. As per UK securities regulations, Standard Life plc issues trading 


     results and interim management statements for the 3 months ending
     March 31, and the 9 months ending September 30. It reports full
     results for the 6 months ending June 30, and the 12 months ending
     December 31. Standard Life Financial Inc. follows the same


 schedule.
  3. Total premiums and deposits reported include those generated by 


     individual life insurance products sold prior to 2012. The
     Standard Life Assurance Company of Canada stopped selling
     individual life insurance and critical illness products in 2012,


 but continues to service the in-force block of business.
  4. Standard Life's main operating company in Canada holds a financial 
 strength rating of 'A+' from 
 Standard & Poor's.
  5. Standard Life plc (LSE: SL.L) published earlier today its 2013 Q1 
 Trading Results and Interim Management, which are 
 available online. 
About Standard Life
Standard Life plc is a leading long-term savings and investment company 
headquartered in Edinburgh, Scotland. Standard Life has around ten million 
customers worldwide and operates in the United Kingdom, Europe, North America 
and Asia, and globally with Standard Life Investments Ltd. 
In Canada, Standard Life has been doing business for 180 years. It operates 
under Standard Life Financial Inc., which wholly owns The Standard Life 
Assurance Company of Canada and Standard Life Mutual Funds Ltd. It is Standard 
Life plc's largest operation outside the UK with about 2,000 employees. It 
provides long-term savings, investment and insurance solutions to more than 
1.4 million Canadians, including group retirement and insurance plan members. 
As of March 31, 2013, Standard Life plc had $360 billion in assets under 
administration, including $46billion in Canada through Standard Life 
Financial. 
Ann-Marie Gagné 514-499-7999, ext. 4600 ann-marie.gagne@standardlife.ca 
SOURCE: STANDARD LIFE 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/April2013/24/c8120.html 
CO: STANDARD LIFE
ST: Quebec
NI: INS ERN  
-0- Apr/24/2013 11:32 GMT
 
 
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