Standard Life reported a 25% increase in adjusted IFRS operating profit to GBP 563 million for the first half of 2026, driven by higher earnings across its pensions and savings and retirement solutions businesses. Operating cash generation rose 6% year‑over‑year to GBP 745 million, bringing total cash generation for the period to GBP 900 million.
The insurer’s leverage ratio fell to 30%, meeting its target ahead of schedule. Pensions and savings operating profit climbed 36% to GBP 244 million, while retirement solutions profit rose 13% to GBP 324 million. Assets under administration (AUA) for the pensions and savings segment grew 7% to GBP 226 billion, with total group AUA reaching GBP 268 billion.
Workplace pension gross inflows hit GBP 4.9 billion, including GBP 0.8 billion from new schemes, and retail pension and savings inflows rose 9% to GBP 3.6 billion. Individual annuity new premiums increased 8% to GBP 600 million, with open‑market premiums up 14%.
The company announced an interim dividend of 28.05 pence per share, a 2.6% year‑on‑year increase, and cumulative cost‑saving initiatives have delivered GBP 210 million in run‑rate savings, moving toward a GBP 250 million target that includes expected synergies from the Aegon UK acquisition.
Standard Life expects the Aegon UK purchase, valued at roughly GBP 2 billion, to close by the end of 2026, and a new pension risk transfer partnership of similar size is slated for launch in the first half of 2027. New scheme wins totalled GBP 6.2 billion in H1, far exceeding the GBP 1.5 billion secured in the prior full year.
Despite the strong financial metrics, the company’s shares fell 2.04% to $0.96 following the call. The Solvency II ratio slipped to 146% from 153% at year‑end 2025, though it remains in the upper half of the regulator’s range.
Group CEO Andy Briggs highlighted the final stage of the three‑year strategy launched in 2024, while CFO Nick noted the step‑up in cash and earnings performance over the past two years.
