Standard Life obviously strengthened in the last quarter. The industry will have a spring in its step with the improving news. There is now a trend towards third party funding and looking overseas. The UK is a low grade economy and insurers are having to be more imaginative.
These figures were top of the range and across a broad spectrum. I think they suggest that the industry has turned a corner. There was a strong performance in institutional pensions which are traditionally very lumpy. This positive fourth quarter is definitely helping to bring confidence back.
NIC CLARKE | CHARLES STANLEY
Once again this was a mixed bag from Standard Life with falling sales in the UK and Europe partly offset by stronger sales in Canada and Asia. However, not only did 2009 sales beat expectations but they have actually improved quarter by quarter in 2009 and the group outlook highlights its strong sales momentum going into 2010.