Claim Against Insurers

RNS Number : 5910W

Standard Life plc

01 February 2012

 



Standard Life plc

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

A judgment handed down on 1 February 2012 in the Commercial Court in London found in favour of Standard Life Assurance Limited in its claim of circa £100m against the insurers of its 2008/2009 Professional Indemnity Policy in relation to the Standard Life Pension Sterling Fund.

The insurers have been granted leave to appeal, and it is unlikely that an appeal will be heard before Autumn 2012. 

No recoveries in respect of the claim will be recognised in the financial statements for the year ended 31 December 2011, and the ultimate recognition of claim proceeds will depend on the outcome and timing of the appeal.

For further information, please contact:

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

Institutional Equity Investors: Jakub Rosochowski Direct: 0131 245 8028 Email: [e-mail]

1 February 2012

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