Standard Life reports first half and second quarter 2013 results in Canada

Standard Life reports first half and second quarter 2013 results in Canada 
Note: All figures are based on IFRS and shown in Canadian dollars. All 
comparisons are with the corresponding period in2012, unless otherwise 
stated. 
First half 2013 


    --  Net income of $48 million
    --  Premiums and deposits of $2.9 billion
    --  Assets under administration at $45.4 billion
    --  Solvency ratio at 263%

MONTREAL, Aug. 8, 2013 /CNW Telbec/ - Standard Life Financial Inc. ("Standard 
Life") today reported net income of $48 million for the first six months of 
2013 (2012: $78 million). These results reflect interest rate volatility and 
equity market returns.

Growth was maintained during the first half, as premiums and deposits rose 
5.6% to $2.9billion (2012:$2.8billion). Expansion was driven by our 
retail business where demand for segregated funds increased by 8.5% to 
$609.5million (2012:$561.9million), and our group savings and retirement 
solutions where premiums and deposits increased by 8.6% to $1.6 billion 
(2012:$1.4billion).

Assets under administration gained 6.8% to $45.4 billion as at June 30 
(2012:$42.5billion).

"Despite a challenging macro-economic environment, we are transforming our 
business and investing in retail and group solutions to take advantage of 
opportunities in our chosen markets," said Charles Guay, President of Standard 
Life.

"To maintain momentum in retail markets, we are leveraging the global 
expertise and capabilities of our asset manager, 
StandardLifeInvestmentsInc., and providing conservative investors 
seeking income with alternatives to traditional investments and savings 
solutions," Mr. Guay continued. "We recently introduced our Global Absolute 
Return Strategies (GARS) Fund for retail investors that follows on the success 
of the GARS solution for Canadian group plans introduced in 2011. We have 
increased our range of mutual funds which is helping us gain traction in the 
investment dealers' network."

"Our investments in workplace retirement solutions focus on the evolving needs 
of employers and their employees. We now offer a series of LDI Fixed Income 
Funds for small and midsized pension plans to help address the challenges of a 
low interest environment. We also added Indexed Target Date Funds (ITDF) and 
our Global Absolute Return Strategies (GARS) Fund to our investment platform," 
Mr. Guay said. "Pension in a Box was recently launched as a simple, 
comprehensive online solution for small and medium enterprises. We are ready 
to offer Pooled Retirement Pension Plans (PRPP) when enabling legislation is 
adopted. We continue to implement our customer experience improvement program, 
as well, with enhanced reporting tools and web-based transactional 
capabilities."

Second quarter 2013
    --  Group savings and retirement premiums and deposits decreased by
        5.3% to $671 million (2012: $709 million) reflecting the uneven
        pattern of this business.
    --  Premiums for group insurance and disability management
        solutions fell by 1% to $176 million (2012: $178 million).
    --  Premiums and deposits for retail products (excluding life
        insurance products) increased by 7.4% to $448 million
        (2012: $418 million). Demand was particularly strong for
        Standard Life's Ideal Segregated Funds, including Signature 2.0
        Funds, which grew 10.7% to $293.8 million
        (2012: $265.3 million) and grew by 32% to $291.6 million
        (2012: $220.8 million) when the discontinued GLWB product is
        excluded. In the segregated funds sector, Standard Life remains
        the fastest growing company in Canada.

Capital position
Standard Life Financial's main operating subsidiary, The Standard Life 
Assurance Company of Canada, reported a solvency ratio of 263% at the end of 
June (December 2012: 277%) following a dividend payment of $250 million. Its 
parent company, StandardLifeplc, maintains a robust capital position, 
assisted by the de-risking of the business over the past few years.

Outlook
Standard Life in Canada is a leading provider of long-term savings and 
investments solutions. The company will maintain its focus on core business 
segments of:
    --  Group savings and 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-GAAP 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 three months
     ending March 31, and the nine months ending September 30. It
     reports full results for the six months ending June 30, and the 12
     months ending December 31. Standard Life Financial Inc. follows


 the same schedule.
  3. In March 2013, Standard & Poor's reaffirmed the financial strength 
 ratings of Standard Life's main operating company in Canada at A+.
  4. The Q2 2013 results of Standard Life plc (LSE: SL.L) published 
 earlier today are 
 available online. 
About Standard Life
Standard Life Financial Inc. wholly owns The Standard Life Assurance Company 
of Canada and Standard Life Mutual Funds Ltd. which provide long-term savings, 
investment and insurance solutions to more than 1.4 million Canadians, 
including group retirement and insurance plan members. 
Standard Life in Canada has been doing business for 180 years and has 
approximately 2,000 employees. It is the largest operation outside the United 
Kingdom of Standard Life plc, its parent company headquartered in Edinburgh, 
Scotland. Standard Life plc has around six million customers and operates in 
the United Kingdom, Europe, North America and Asia, and globally with Standard 
Life Investments Ltd. 
As of June 30, 2013, Standard Life plc had $372.5 billion in assets under 
administration, including $45.4 billion in Canada through Standard Life 
Financial.
 

SOURCE  STANDARD LIFE 
Geoffrey King 514-499-7999, ext. 8150 geoffrey.king@standardlife.ca 
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CO: STANDARD LIFE
ST: Quebec
NI: INS ERN FIN FND FLOWS  
-0- Aug/08/2013 12:35 GMT