Standard Life H1 profits up 10%

Insurer Standard Life has posted a 10% rise in pre-tax operating profit for the first half of the year to £182m (€221m).

The company said the improvement was largely driven by performance overseas including in its Canadian and Indian markets.

Net inflows across the group were up 71% to £5.3bn (€6.43bn) while assets under administration rose 5% to £179bn (€217bn).

The company's Irish business turned a profit of £7m (€8.5m) compared to a loss of £1m (€1.2m) for the corresponding period last year.

"This strong set of results demonstrates the progress we have made as a business and the potential for increased profits and dividends as we invest for growth," commented CEO David Nish.