Standard Life (Canada)

Infobox Company
company_name = Standard Life Assurance Company of Canada
company_
company_type = Subsidiary of (Standard Life)
foundation = 1833
location = Montreal, Quebec, CAN
key_people = Joseph Iannicelli, President and CEO
industry = Financial services
products = Insurance
revenue =
operating_income =
net_income =
num_employees = 2,000
parent = [http://www.standardlife.com Standard Life PLC]
subsid =
homepage = [http://www.standardlife.ca Standard Life - Canada]
footnotes =

The Standard Life Assurance Company of Canada (also know as Standard Life) is a major investment, retirement and financial protection company through various products and services. The Standard Life group has been a prominent player in the Canadian marketplace since 1833.

They currently employee over 2,000 people across Canada who work from 25 offices across the country. They are divided into different groups including group savings and retirement, group insurance, individual life insurance, savings and retirement, mutual funds and portfolio management.

Standard Life had as of December 31, 2006 $36.89 billion CDN in assets under management. The company offer a wide range of financial products and services to over 1.31 million individuals, including group insurance and pension plan members. In 2006, the total premium income and deposits reached $5.17 billion. [http://www.standardlife.ca/en/corporate/about/index.html]

The company currently has approximately 7 million customers and 1.5 million shareholders worldwide. As of December 31, 2006, its investment management business had $301 billion in assets under management.

History

Founded in Edinburgh (Scotland) in 1825, The Standard Life Assurance Company demutualized in 2006 and a new public company - Standard Life PLC - was born. Standard Life plc was listed on the London Stock Exchange (LSE), under SL on July 10, 2006.

The Standard Life Assurance Company was established in 1825 and the first Standard Life Assurance Company Act was passed by Parliament in 1832. Standard Life was reincorporated as a mutual assurance company in 1925.

The Standard Life group originally operated only through branches or agencies of the mutual company in the United Kingdom and certain other countries.

The Canadian branch was founded in 1833 and the Irish operations in 1838. This largely remained the structure of the group until 1996, when it opened a branch in Frankfurt, Germany with the aim of exporting its UK life assurance and pensions operating model to capitalise on the opportunities presented by “Third Life Directive” and offer a product range in that market with features which local providers were unable to offer.

In the 1990s, the group also sought to diversify its operations into areas which complemented its core life assurance and pensions business, with the intention of positioning itself as a broad range financial services provider.

Corporate Governance

[http://www.standardlife.ca/en/corporate/governance/executive.html Executive Mangement]
*President and Chief Executive Officer: Joseph Iannicelli
*Senior Vice-President - Retail Markets: Denis Berthiaume
*Senior Vice-President - Group Savings & Retirement: Anthony Cardone
*Senior Vice-President - Group Insurance: Jean Guay
*Senior Vice-President - Human Resources and Corporate Services: Perla Kessous
*Senior Vice-President - Finance and Information Technology: Christian Martineau
*Senior Vice-President - Legal & Compliance: Penny Westman
*President and Director - Standard Life Investments Inc.: Roger Renaud

[http://www.standardlife.ca/en/corporate/governance/board.html Board of Directors]
*Jocelyn Proteau, Chairman
*William A. Black
*Sandy Crombie
*Maurice Forget, C.M.
*Joseph Iannicelli
*Christian Martineau
*Jeffrey J. McCaig
*Roger Renaud
*Dale E. Richmond

Finances

Standard Life PLC entered the FTSE 100 on September 18, 2006, after the quarterly review of the index by the FTSE group. In March 2007, Standard Life Plc became part of the FTSE4Good Index, which is used to identify companies that meet globally recognized corporate responsibility standards. [http://www.standardlife.ca/en/pdf/corporate/2006/3086.pdf]

Divisions

Standard Life is split into 3 areas including Individual, Group and Life areas broken down into 6 divisions:
* [http://www.standardlife.ca/en/group/retirement/index.html Group Savings and Retirement]
* [http://www.standardlife.ca/en/group/insurance/index.html Group Insurance]
* [http://www.standardlife.ca/en/individual/insurance/index.html Individual Life Insurance]
* [http://www.standardlife.ca/en/individual/investments/index.html Savings and Retirement]
* [http://www.standardlife.ca/en/individual/investments/mutual_funds/index.html Mutal Funds]
* [http://canada.standardlifeinvestments.com/content/en/index.html Portfolio Management]

Standard Life also owns and operates over convert|11000000|sqft|m2 of office, retail and industrial space through its [http://www.standardlife.ca/realestategroup/en/index.html Real Estate] division.

External links

* [http://www.standardlife.ca/en/index.html Standard Life Assurance Company of Canada]
** [http://ukgroup.standardlife.com/html/index.html Standard Life Group]

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