Standard Life raises flotation target

EUROPE’S largest mutual life insurer, Standard Life, has doubled the amount of money it plans to raise in its forthcoming flotation to £2 billion (€2.86 billion).

Standard Life is set to list shares in London in July after it revealed last week members would vote on a demutualisation proposal at the end of May.

Standard Life is expected to be valued at between £4bn (€5.7bn) and £6bn (€8.6bn) in what would be one of Britain’s biggest flotations of recent years.