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Standard Life executives add to holdings
Wed, 08 Feb, 2012
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Standard Life executives add to holdings
Thu, 11 Mar 2010, 17:33:00
Life insurer <b>Standard Life</b>'s executive directors have added to their shareholdings following Wednesday's full year results. Chief executive David Nish's wife Caroline has bought 75,000 shares at 206.05p each. This investment of nearly £155,000 takes the Nish family stake to 261,981 shares. Nish was appointed chief executive at the beginning of 2010 and was previously finance director. Norman Skeoch, the chief executive of Standard Life Investments, has bought the same number of shares at the same price. Skeoch owns 558,775 shares. Non-executive chairman Gerald Grimstone acquired 25,000 shares at 203.59p each. That takes his stake to 175,545 shares. Standard Life is lifting its efficiency targets after delivering 2009 profits ahead of market expectations on Wednesday. 'We are announcing today that we will target a further £100m of efficiency savings by 2012. These savings, which will improve new business margins, will be achieved through transforming our operations to become lower cost and scalable, while maintaining the quality of customer service,' claimed Nish. Underlying profit before tax in 2009 rose to £291m from £154m the year before, while European Embedded Value (EEV) operating profit before tax dipped to £919m from £933m. That trumped market expectations of a figure around £665m. Profit attributable to equity shareholders after tax more than doubled to £213m from £100m but the diluted underlying earnings per share (EPS) only edged up to 12p from 11.7p. On an EEV basis, diluted operating EPS eased to 29.1p from 29.8p. Gross earned premiums held steady at £3,562m from £3,564m (restated) in 2008. <b>Top Director Buys</b> Standard Life (SL.) Director name: Mr Keith Skeoch Amount purchased: 75,000 @ 206.05p Value: £154,538 Standard Life (SL.) Director name: Mr David Thomas Nish Amount purchased: 75,000 @ 206.05p Value: £154,538 Anglo American (AAL) Director name: Sir John Parker Amount purchased: 5,505 @ 2,707.50p Value: £149,048 Prudential (PRU) Director name: Ms Bridget Macaskill Amount purchased: 15,000 @ 524.50p Value: £78,675 Leaf Clean Energy (LEAF) Director name: Mr Peter Tom Amount purchased: 100,000 @ 60.00p Value: £60,000 Standard Life (SL.) Director name: Mr Gerry Grimstone Amount purchased: 25,000 @ 203.59p Value: £50,898 Angel Mining (ANGM) Director name: Mr Francis David Sherston Chapman Amount purchased: 500,000 @ 7.00p Value: £35,000 Leaf Clean Energy (LEAF) Director name: Mr Bran Keogh Amount purchased: 50,000 @ 62.00p Value: £31,000 Leaf Clean Energy (LEAF) Director name: Mr Bran Keogh Amount purchased: 50,000 @ 60.00p Value: £30,000 Pennon Group (PNN) Director name: Mr Gerard Connell Amount purchased: 4,000 @ 521.39p Value: £20,856 <b>Top Director Sells</b> Brit Insurance Holdings NV (BRE) Director name: Mr Dane Jonathan Douetil Amount sold: 24,227 @ 745.13p Value: £180,523 Fuller Smith and Turner (FSTA) Director name: Mr Simon Emeny Amount sold: 30,000 @ 540.00p Value: £162,000 Amlin (AML) Director name: Mr Brian D Carpenter Amount sold: 27,492 @ 419.39p Value: £115,299 Brit Insurance Holdings NV (BRE) Director name: Mr Matthew Scales Amount sold: 12,112 @ 745.13p Value: £90,250 Senior (SNR) Director name: Mr M Rollins Amount sold: 80,435 @ 90.10p Value: £72,472 Senior (SNR) Director name: Mr Michael Sheppard Amount sold: 36,673 @ 90.10p Value: £33,042
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