Standard Life With Profits

RWP Research Findings, Overview and Comments


In considering any company and its with-profits RWP will look to assess a range of factors which will include: the company’s management record; its transparency of information, its financial strength; its prospects for providing future returns and the nature of its with-profits approach.

In this regard we believe that Standard Life is a solid performer with, in general terms, a good with-profits record. They are also considered a financially strong institution.

They have over £30 Billion in various with-profits policies; they are a PLC – having demutualised in 2006. Most of their With-Profits ‘business’ is within what is known as their Heritage fund, the small exceptions within other funds are just that – exceptions, our comments around their with-profits performance and prospects relate to the Heritage fund.

We consider Standard Life has reasonable historic returns and past performance and is in a financially strong position. Some policies have guarantees in place, for example they have 3% and 4% ‘guarantee’ plans, which provide a basic return of this level per year.

Conversely there are MVRs being applied or that have been applied quite widespread, which dampen the position somewhat.

Apart from the MVR position, the overall status and performance of this fund suggest future prospects for policyholders are good.

Ironically policyholders with guarantees, such as those exampled above (3%/4%) could have the least attractive prospects as these may have the most limited growth potential in the future.

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Company ownership position

The company commenced operations on 10 July 2006 when The Standard Life Assurance Company (SLAC) demutualised. The company ownership is now with Standard Life PLC.


Company history

The Life Insurance Company of Scotland was founded in Edinburgh in 1825. They reincorporated as a mutual assurance company in 1925 and changed their name to The Standard Life Assurance Company in 1832.

By the 1950s, they were the largest life assurance company in Scotland. And by the 1990s, were Europe's biggest mutual company.

In 2006, they became Standard Life PLC. They now have around 1.2 million shareholders around the world.

With-profits funds run by the company

In the UK they have the Heritage With-Profits fund and also a fund known as the UK Smoothed Managed With-Profits fund. The Heritage fund contains 99.8% of the value between these two funds.


For the latest with-profits bonus information please click here:

For information on how Standard Life approach the management of their with-profits please click here:


Please remember that any of our summary findings or conclusions are general; an appraisal of the general position for that company. There will be situations where an individual policyholder with a company that is ‘good’’ may want to look at surrendering or transferring their policy (for example to secure a guarantee or because it does not suit their risk position), likewise there will be situations where policyholders with a ‘poor’ company want to stick with what they have (for example because the penalty of exiting will be too great). Nothing can replace getting a report based on your unique circumstances; it is only this unique, personalised report which will provide the information that will instruct you on your circumstances regardless of the company and our general comments.


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Please note the information on these pages should not be used in any way or form as the basis for any decision about your with-profits investment or plan. RWP makes every attempt to ensure that all information is up to date and accurate but RWP cannot be held responsible for any of the detail provided. The information above is published to act as a broad guide to the Company’s position, history and future prospects. However any decision about your own with-profit plan should only be taken after you have sought and received qualified advice from an appropriate regulated advisory source and should be based entirely on that advice.


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