Standard Life reports 2013 third 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.
    --  Total assets under administration up 4% to $46.1 billion
    --  Fee-based assets under administration increased 14% to $28.2
        billion
    --  Segregated funds sales up 66% to $321.7 million

MONTREAL, Oct. 30, 2013 /CNW Telbec/ - Standard Life Financial Inc. ("Standard 
Life") today reported that premiums and deposits were stable at $4.3 billion 
for the first nine months of 2013 and reached $1.4billion in the third 
quarter (2012: $1.6 billion). These results reflect a strong performance in 
the company's retail investment funds.

Charles Guay, President, said: "We're seeing strong momentum in our retail 
business. We continue to gain ground with the fastest growing segregated funds 
offering in Canada, to add innovative funds to our offering, and to leverage 
the global expertise and capabilities of our asset manager, Standard Life 
Investments."

Mr. Guay added: "I'm pleased with the work we've accomplished, especially with 
continuing to address the needs of our customers. We just launched our 
Financial Inertia Program. This is a major commitment to encouraging Canadians 
to become more proactive in managing their savings and investments. We also 
completely revamped our Education Centre to help employees who have a group 
savings and retirement plan with Standard Life to gain more confidence and be 
more engaged in planning their financial future."

Increase in fee-based assets under administration
Total assets under administration were up 4% over last year to $46.1 billion 
(2012: $44.3 billion), mainly due to net inflows and positive market movement. 
Fee-based assets under administration increased by 14% over last year to $28.2 
billion (2012: $24.8 billion).

Momentum in retail business
Overall premiums and deposits for retail savings and investment solutions 
increased by 12% to $1.4 billion for the first nine months of 2013 (2012: $1.2 
billion), and by 32% to $471 million in the third quarter (2012: $357.5 
million). The growth was driven by the continued success of Standard Life's 
retail segregated funds, which grew 22% to $922.7 million year-to-date (2012: 
$755.5 million), and 66% over the same quarter last year, to $321.7 million 
(2012: $194.1 million).

Continued growth in defined contributions retirement plans
Overall premiums and deposits from the group savings and retirement business 
amounted to $2.3 billion for the first nine months of 2013 (2012: $2.4 
billion), and to $725 million in the third quarter (2012: $984 million), 
impacted by the uneven pattern of this business. Premiums and deposits in the 
core segment of defined contribution plans improved by 4.5% to $1.9 billion 
year-to-date (2012: $1.8 billion), and were up slightly to $566 million in the 
third quarter (2012: $565 million.)

Group insurance and disability management activities were in line with the 
first nine months of last year at $532 million (2012: $533 million), and 
experienced a 3% decrease to $174 million in the third quarter (2012: $180 
million).

Solid capital position maintained
Standard Life Financial's main operating subsidiary, The Standard Life 
Assurance Company of Canada, reported a solvency ratio of 245% at the end of 
September (June 2013: 263%) following a dividend payment of $205 million to 
Standard Life plc.

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. Total premiums and deposits reported in Q3 of 2013 include those
     generated by individual life insurance products sold prior to
     2012. The Standard Life Assurance of Canada stopped selling
     individual life insurance and critical illness products in 2012,


 but continues to service the in-force block of business.
  2. 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).
  3. 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
     twelve months ending December 31. Standard Life Financial Inc.


 follows the same schedule.
  4. In May 2013, Standard & Poor's reaffirmed the financial strength 
 ratings of Standard Life's main operating company in Canada at 
 'A+.
  5. Standard Life plc (LSE: SL.L) 2013 Q3 results published earlier 
 today are 
 available online. 
About Standard Life
Standard Life provides 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 operates under Standard Life 
Financial Inc., which wholly owns The Standard Life Assurance Company of 
Canada and Standard Life Mutual Funds Ltd. 
Standard Life Financial 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 worldwide and operates in 
the UK, Canada, Europe, Asia, the Middle East and globally with Standard Life 
Investments Ltd. 
Standard Life plc had $396 billion in assets under administration, including 
$46.1 billion in Canada through Standard Life Financial Inc. (at September 30, 
2013).
 

SOURCE  Standard Life 
Ann-Marie Gagné 514-499-7999 or 1-877-499-9555, ext. 4600 
ann-marie.gagne@standardlife.ca 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/October2013/30/c8311.html 
CO: Standard Life
ST: Quebec
NI: INS ERN FIN  
-0- Oct/30/2013 11:00 GMT
 
 
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