Claim against insurers

RNS Number : 7911T

Standard Life plc

18 December 2012

 



Standard Life plc

Standard Life claim against insurers of 2008/2009 Professional Indemnity Policy

On 1 February 2012 a judgment was handed down in the Commercial Court in London in favour of Standard Life Assurance Limited (SLAL) in its claim of approximately £100m against the insurers of its 2008/2009 Professional Indemnity Policy in relation to the Standard Life Pension Sterling Fund.  The insurers appealed that decision.

On 18 December 2012 the Court of Appeal handed down a judgment upholding the decision of the Commercial Court, dismissing the insurers' appeal and finding in favour of SLAL.  In addition, SLAL was awarded its costs in the appeal.  The insurers have 28 days to seek leave to appeal to the Supreme Court.  If leave to appeal to the Supreme Court is granted, it is unlikely that an appeal would be heard before autumn 2013.

For further information, please contact:

Media: Barry Cameron Direct: 0131 245 6165 Mobile: [phone] Email: [e-mail]

Institutional Equity Investors: Lorraine Rees Direct: 0131 244 0124 Mobile: [phone] Email: [e-mail]

18 December 2012

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