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Canada - Overview
Standard Life is the 4th largest provider of life
assurance and pension products in Canada,
based on assets under management. In 2007,
Canada kept the emphasis on operational
efficiency and margins over volume, across
its range of savings, retirement and insurance
products. Canada also invested in rebuilding
its distribution capabilities and launched
several new propositions for its clients. In
2008, Canada will be celebrating its 175th
anniversary. A series of events are planned
to commemorate this anniversary and
strengthen the brand.
| Key performance indicators | 2007 | 2006 | Movement |
|---|---|---|---|
| New business PVNBP1,2 | £1,654m | £2,091m | (21%) |
| New business APE1 | £157m | £196m | (20%) |
| New business contribution3 | £37m | £28m | 32% |
| PVNBP margin3,4 | 2.3% | 1.6% | 0.7% points |
| EEV operating profit before tax3 | £178m | £163m | 9% |
| IFRS underlying profit before tax3 | £168m | £168m | - |
1 The 2007 figures include mutual funds sales. The 2006 figures have been restated to reflect the inclusion of mutual funds. The 2007 impact is: PVNBP of £284m (APE of £28m). The 2006 impact is: PVNBP of £300m (APE of £30m).
2 The PVNBP new business sales are different from those previously published in the full year new business press release issued on 30 January 2008 as they incorporate year end non-economic assumption changes.
3 2006 is shown on a pro forma basis.
4 PVNBP margins are NBC divided by PVNBP expressed as a percentage based on the underlying unrounded numbers.
Please refer to the basis of preparation section in the business review and the glossary.
