Standard Life Financial reported that premiums and deposits increased by 23% to $1.9 billion in the first quarter of 2014.
And assets under administration grew by 8% to $50 billion.
Its group savings and retirement premiums and deposits rose by 14% to $1 billion, while the core DC business was up by 7% to $780 million.
The increase was driven, in part, by Standard Life’s new solutions, such as its Financial Education Centre and Group Retirement Centre.
Group insurance and disability management premiums and deposits declined by 1.1% to $180 million.
“Our performance for the first three months of the year reflects our constant focus on delivering innovative products and solutions for our customers,” says Charles Guay, president of Standard Life.
Related articles: