Standard Life sets flotation plans in motion with demutualisation schedule

STANDARD LIFE set flotation plans in motion yesterday, as it announced details of it’s schedule for demutualisation, quelling rumours of a setback.

Standard Life is expected to be worth up to €8.5 billion when it floats next summer and in a long-awaited move, the insurers said yesterday that the board has recommend to members that the Company should demutualise and list on the London Stock Exchange.

This call comes despite ongoing talks with the Financial Services Authority (FSA) on issues such as the position of policyholders who will receive only 40% to 60% of the top-ups they had been counting on, when their endowment policies mature after the end of this year.