Standard Life concerns over referendum
EDINBURGH-based insurer Standard Life has warned that concerns it raised months ago about the impact of Scottish independence on its business have still not been addressed.
Announcing the group’s half-year results yesterday, chief executive David Nish highlighted a number of issues, including currency, EU membership and taxation, that remained unresolved.
“We do not believe that further clarity has been provided on any of these issues since our 2013 annual report,” he said, adding: “These are material issues which may have implications for our four million UK customers, our shareholders, our people and other stakeholders.”
Standard Life, which announced a pre-tax operating profit increase of 12 per cent to £339m yesterday, has been outspoken about the referendum debate for months.
Nish said the group was still looking at contingency plans to move operations out of Scotland if the country voted in favour of leaving the UK in September.
Assets managed by the group were up four per cent to £254.1bn in the half-year and the interim dividend issued was also up by 7.3 per cent.