Summary
EDINBURGH-based assurer Standard Life, which last week cut bonuses for the fourth time in two years, would serve its customers better by selling off capital-hungry subsidiaries and opting to retain its mutual status, according to actuaries and independent financial advisers.
Ronnie Sloan, a former principal at actuarial consultants Punter Southall & Co and one of the mutual assurer's most vocal critics, said Standard Life ought to refocus on its core business, slash executive pay and remain a mutual. He detects a growing groundswell of support for such action.See the full content of this document
Extract
Stay Mutual Drive for Standard Life
"They would be better advised to retrench by disposing of capital- intensive activities such as Standard Life Bank and concentrate on becoming a niche playe...
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