Standard Life, Britain's fourth-biggest insurer by market capitalisation, reaped the benefits of growth at its overseas division to post higher interim profits today.
Operating profit before tax from continuing operations rose 10 per cent from last year to £182 million, helped by growth overseas in areas such as Canada and India.
Net inflows rose 71 per cent to £5.3 billion, while the company also raised its interim dividend by 4.8 per cent.
Standard Life's earnings follow a set of solid profit increases from Britain's top insurers this month.
Earlier this month, larger UK rivals Aviva and Legal & General posted higher first-half profits and delivered upbeat outlooks, while Prudential Plc is also expected to report a rise in profits tomorrow.
"Whilst the economic background remains uncertain we believe that the underlying demographic and regulatory trends in our key markets continue to support our future growth potential," Standard Life said in a statement.
Standard Life shares closed up 0.6 per cent at £2.16 yesterday, giving the company a market capitalisation of around £4.8 billion.
Reuters