Standard life policy owners set for shares windfall

Standard Life members were promised a shares windfall today after the society fired the starting gun on a plan to list on the stock market.

The long-awaited move, which will end the assurer’s 80 years as a mutual, will see around 2.4 million eligible policyholders receive shares in place of their membership – estimated by analysts to be worth up to £1,000 (€1,460).

Edinburgh-based Standard set out the timetable for the process today, with the proposals due before members in May or June. The mutual requires the support of 75% of those who vote if the demutualisation and flotation is to go ahead.