At least one mutual life insurer seems to be alive and well, as the U.K.’s Standard Life, Europe’s largest, announced a 25 percent increase in worldwide new business premiums which reached £5 billion ($7.25 billion) for the end of its fiscal year, November 15th.
While the U.K.’s Equitable Life has been forced to cease accepting new business, following its failure to find a buyer, Standard’s doing just fine, registering a 21 percent increase in new U.K. premiums to £3.5 billion ($5.08 billion). It also posted a 12 percent gain in sales of pension products, a 33 percent increase in Canadian operations, and a 35 percent increase in its investment division, which now has £78 billion ($113 billion) under management.
Some analysts have speculated that the results could trigger new demands for the insurer to demutualize. It successfully fought off such a proposal last June, and company spokesmen have reaffirmed that Standard remains committed to operating as a mutual.
Was this article valuable?
Here are more articles you may enjoy.
Honda’s Insurance Agency Operations Stall, Services ‘Paused’ 
Florida Property Tax Cut Plan Relies on Population Boom That Has Slowed Dramatically 
Remember the Fall of Patriot National? Trial in Suit vs. Mariano’s Lawyers to Begin 
Premiums Will Skyrocket by 2035; Discounts Not Enough for Wind Mit, Studies Say 
