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April 21, 2015 9:37 AM ET

Insurance

Company Overview of Friends Life Holdings plc

Company Overview

Friends Life Holdings plc, together with its subsidiaries, provides pension, investment, and life insurance products. It operates through UK, Heritage, FPI, and Lombard segments. The company also distributes mortgages. It has operations primarily in the United Kingdom, Germany, Luxembourg, the United Arab Emirates, Singapore, Hong Kong, and the Isle of Man. The company was formerly known as Friends Life Group plc and changed its name to Friends Life Holdings plc in May 2014. Friends Life Holdings plc was incorporated in 2009 and is based in Dorking, the United Kingdom.

Pixham End

Dorking,  RH4 1QA

United Kingdom

Founded in 2009

3,940 Employees

Phone:

44 084 5602 9189

Fax:

44 1306 740 150

Key Executives for Friends Life Holdings plc

Group Chief Executive Officer and Executive Director
Age: 48
Chief Financial Officer and Executive Director
Age: 52
Chief Operating Officer
Age: 43
Chief Executive Officer of Heritage Division
Managing Director of International
Compensation as of Fiscal Year 2014.

Friends Life Holdings plc Key Developments

Friends Life Holdings plc Reports Unaudited Consolidated Earnings Results for the Full Year Ended December 31, 2014; Recommends Interim Dividend

Friends Life Group plc reported unaudited consolidated earnings results for the full year ended December 31, 2014. For the year, the company reported gross earned premiums of £1,766 million compared to gross earned premiums of £1,971 million for the same period a year ago. Net earned premiums were £2,766 million compared to £1,376 million last year. Total revenue was £11,047 million compared to £10,049 million last year. Profit before tax from continuing operations was £88 million compared to £441 million last year. Loss before shareholder tax from continuing operations was £134 million compared to profit before shareholder tax from continuing operations of £107 million last year. Loss for the year was £117 million compared to profit for the year of £256 million last year. Loss attributable to equity holders of the company from continuing operations was £77 million compared to profit attributable to equity holders of the company from continuing operations of £249 million last year. IFRS based operating profit before tax from continuing operations was £579 million compared to £427 million last year. IFRS based operating profit after tax from continuing operations attributable to equity holders of the company was £559 million compared to £426 million last year. Net cash inflow from operating activities was £407 million compared to £706 million last year. Additions to internally generated intangible assets were £2 million compared to £4 million last year. The directors are recommending an interim dividend of £250 million to be paid in March 2015.

Friends Life Holdings plc Reports Consolidated Earnings Results for the Six Months Ended June 30, 2014

Friends Life Group plc reported consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported total revenues of £4,269 million against £8,189 million a year ago. Profit before tax from continuing operations was £92 million against £377 million a year ago. Loss before shareholder tax from continuing operations was £19 million against profit before shareholder tax from continuing operations of £100 million a year ago. Loss attributable to equity holders of the company from continuing operations was £22 million against profit attributable to equity holders of the company from continuing operations of £64 million a year ago. Total loss for the period was £33 million against total profit for the period of £71 million a year ago. Net cash inflow from operating activities was £301 million against £532 million a year ago. Additions to internally generated intangible assets were £1 million against £2 million a year ago.

Friends Life Group plc will Change its Name to Friends Life Holdings plc

Effective May 09, 2014, Friends Life Group plc will change its name to Friends Life Holdings plc.

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