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Standard Life plc - Annual Report and Accounts 2007
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Europe

Overview

In Europe, Standard Life offers a range of investment and pension solutions. Germany sales were supported by initiatives to strengthen distribution and product positioning. Maxxellence, the new unit linked product, launched in the 4th quarter of 2006 also contributed to the growth. Ireland continued to build on the choice and flexibility of its investment offering and build on the success of its Synergy range of products.

Europe NBC: £8m in 05, £10m in 06, £26m in 07

Performance

Performance in Europe was marked by a significant 160% increase in NBC due to strong sales growth in Germany and Ireland with a 36% increase in PVNBP sales and a favourable change in margin from 1.2% in 2006 to 2.2% for 2007. Sales performance was driven by demand for new products and strengthened distribution.

Looking ahead

Europe will continue to evolve its products with the aim of increasing efficiency and profitability. Germany will build on its strength in distribution and its anticipated that the results of Maxxellence will continue to be positive in 2008. Despite current volatile markets in Ireland the medium term prospects are encouraging.

View Business segment performance - Europe for more detail.

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