Standard Life's Assets under Administration in Asia Increases 44% to GBP420m

HONG KONG and SINGAPORE, Feb. 23, 2015 /PRNewswire/ -- Standard Life announces today its business performance in Asia for year 2014.

Developments and achievements in Asia

Wholly owned operations:

• Assets under administration increased by 44% to GBP420m (2013: GBP291m)
• Operating profit before tax up to GBP1m (2013: loss GBP5m)
• Net inflows increased to GBP87m (2013: GBP76m)
• Its Hong Kong business is ranked the fourth in the investment-linked insurance market with market share of 8.95%*

Joint venture businesses:

• Operating profit before tax up to GBP18m (2013: GBP5m)
• HDFC Life is ranked second by overall new business sales in the private market with a market share of 16% in December 2014**
• In mainland China, Heng An Standard Life reported a profit for the first time in 2014 following its strong performance supported by a 24% growth in sales through the individual business channel, strong investment gains and strict control of management expenses

Alan Armitage, CEO for Asia and Emerging Markets, Standard Life said: "As the business landscape in Asia continues to evolve, we continue to change and adapt. I am pleased with the progress we are making and this has been reflected in our business performance with increased assets under administration and net flows. We will continue to enhance our business operations and develop new propositions to meet customer needs in the region."

Notes to editors:

About Standard Life in Asia:

• Standard Life's wholly owned business in Asia provides long-term savings and investment solutions to more than 52,000 customers, managing GBP420 million (US$692 million) of assets. In addition, through its life Joint Ventures, it gains global diversification and exposure to the fast growing emerging economies in India and mainland China.
• Standard Life Hong Kong ("Standard Life (Asia) Limited), established in 1999 and registered as an authorised insurer in Hong Kong, is a subsidiary of the Group and committed to Hong Kong and the Asian region. Partnering with financial advisers and other financial institutions, Standard Life provides wealth management solutions focusing investment-linked insurance plans to help customers achieve their wealth and retirement goals.
• Standard Life Singapore ("Standard Life International Limited (Singapore Branch)"), established in October 2012, provides long term savings and investment solutions for customers in Singapore and the wider South East region. Standard Life International Limited (Singapore Branch) is a branch of Standard Life International Limited (a company registered in Ireland and authorised by the Central Bank of Ireland) and is authorised by the Monetary Authority of Singapore.

About the Standard Life Group

• Standard Life is in the business of helping build a more prosperous world. The Group is dedicated to making sure that everything it does help its customers to save and invest for their future, the industry to improve and the society to progress. These things have been important to the Group since it was established in Edinburgh in 1825.
• Since then, the Group has also been growing globally. Today, the Standard Life Group employs around 6,500 people internationally -- through businesses in the UK, Europe, North America and Asia.
• The Group is one of the Fortune Global 500's largest companies by revenue, and Standard Life plc is listed on the London Stock Exchange with around 1.3 million individual shareholders across over 50 countries.
• Around 4.5[1] million customers worldwide trust the Group with their financial future -- and Standard Life is responsible for the administration of over GBP296.6 billion (US$488.6 billion) of their assets. The Group supports a further 20 million customers through its Chinese and Indian joint venture businesses. The Standard Life Investments brand also offers truly global asset management expertise with strong investment capabilities.
• Wherever it operates in the world, Standard Life is motivated by a sense of responsibility. The Group believes that is what helps it to be a sustainable business. Standard Life is proud to be listed as a leader for corporate sustainability in its industry in the Dow Jones Sustainability Indices (DJSI World and DJSI Europe).

All figures as at 31 December 2014

Media contact:

Standard Life
Chely Chan
Senior Manager, Marketing and Communications
Tel: +852-2169-2634
Email: chely_chan@standardlife.hk

Mandy Leung
Communications Officer
Tel: +852-2169-2684
Email: mandy_leung@standardlife.hk