September 23, 2014 6:28 AM ET

Insurance

Company Overview of Friends Life Holdings plc

Company Overview

Friends Life Holdings plc, together with its subsidiaries, provides pension, investment, and life insurance products. It operates through UK, Heritage, FPI, and Lombard segments. The company also distributes mortgages. It has operations primarily in the United Kingdom, Germany, Luxembourg, the United Arab Emirates, Singapore, Hong Kong, and the Isle of Man. The company was formerly known as Friends Life Group plc and changed its name to Friends Life Holdings plc in May 2014. Friends Life Holdings plc is based in Dorking, the United Kingdom.

Pixham End

Dorking,  RH4 1QA

United Kingdom

Phone:

44 084 5602 9189

Fax:

44 1306 740 150

Key Executives for Friends Life Holdings plc

Group Chief Executive Officer and Executive Director
Chief Financial Officer and Executive Director
Age: 52
Chief Operating Officer
Age: 43
Chief Executive Officer of Heritage Division
Managing Director of International
Compensation as of Fiscal Year 2014.

Friends Life Holdings plc Key Developments

Friends Life Holdings plc Reports Consolidated Earnings Results for the Six Months Ended June 30, 2014

Friends Life Group plc reported consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported total revenues of £4,269 million against £8,189 million a year ago. Profit before tax from continuing operations was £92 million against £377 million a year ago. Loss before shareholder tax from continuing operations was £19 million against profit before shareholder tax from continuing operations of £100 million a year ago. Loss attributable to equity holders of the company from continuing operations was £22 million against profit attributable to equity holders of the company from continuing operations of £64 million a year ago. Total loss for the period was £33 million against total profit for the period of £71 million a year ago. Net cash inflow from operating activities was £301 million against £532 million a year ago. Additions to internally generated intangible assets were £1 million against £2 million a year ago.

Friends Life Group plc will Change its Name to Friends Life Holdings plc

Effective May 09, 2014, Friends Life Group plc will change its name to Friends Life Holdings plc.

Friends Life Group plc Recommends an Interim Dividend, Payable on or Before March 31, 2014; Reports Consolidated Earnings Results for the Full Year Ended December 31, 2013

Friends Life Group plc announced that the directors are recommending an interim dividend in respect of financial performance during the year ended December 31, 2013 of 48.5 pence per ordinary share to be paid on or before 31 March 2014. The company reported consolidated earnings results for the full year ended December 31, 2013. For the year, the company reported gross earned premiums of £1,971 million compared to gross earned premiums of £1,906 million for the same period a year ago. Net earned premiums were £1,376 million compared to £1,304 million last year. Total revenue was £10,988 million compared to £11,097 million last year. Profit before tax from continuing operations was £395 million compared to £96 million last year. Profit before shareholder tax from continuing operations was £61 million compared to loss before shareholder tax from continuing operations of £162 million last year. Profit was £256 million compared to loss of £11 million last year. Profit attributable to equity holders of the company was £225 million compared to loss attributable to equity holders of the company of £42 million last year. IFRS based operating profit before tax was £461 million compared to £302 million last year. IFRS based operating profit after tax attributable to equity holders of the company was £460 million compared to £304 million last year. Net cash inflow from operating activities was £706 million compared to £1,225 million last year. Net additions of property and equipment were £2 million compared to £2 million last year. Additions to internally generated intangible assets were £4 million compared to £4 million last year.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 27, 2013
Friends Life Group plc, 5 Bedford Park in Central Croydon
 

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