Company Overview of Friends Life Group plc
Friends Life Group plc, together with its subsidiaries, is engaged in the provision and administration of life insurance and pensions products. It operates through three segments: UK and Heritage, FPI, and Lombard. The company offers life assurance, savings, and investment products; individual and group pension products; and unit-linked life assurance products, as well as distributes mortgages. It primarily has operations in the United Kingdom, Germany, Luxembourg, the United Arab Emirates, Singapore, Hong Kong, and the Isle of Man. The company was incorporated in 2009 and is headquartered in London, the United Kingdom. Friends Life Group plc is a subsidiary of Resolution Holdings (Guernsey)...
One New Change
London, EC4M 9EF
Founded in 2009
Key Executives for Friends Life Group plc
Group Chief Executive Officer and Executive Director
Chief Financial Officer and Executive Director
Chief Executive Officer of Heritage Division
Managing Director of International
Compensation as of Fiscal Year 2013.
Friends Life Group plc Key Developments
Friends Life Group plc Reports Consolidated Earnings Results for the Half Year Ended June 30, 2013
Aug 13 13
Friends Life Group plc reported consolidated earnings results for the half year ended June 30, 2013. For the period, the company reported total revenues were £8,409 million against £3,561 million a year ago. Profit before tax from continuing operations was £357 million against loss of £118 million a year ago. Profit attributable to equity holders of the company was £55 million against loss of £59 million a year ago. Net cash inflow from operating activities was £532 million against £304 million a year ago. Additions to internally generated intangible assets were £2 million against £1 million a year ago.
Friends Life Group plc Announces Preliminary Consolidated Earnings Results for the Full Year Ended December 31, 2012; Recommends Interim Dividend, Payable on or Before March 31, 2013
Mar 26 13
Friends Life Group plc reported preliminary consolidated earnings results for the full year ended December 31, 2012. For the full year, the company reported total revenue of £11,129 million compared to £4,103 million a year ago. Profit before tax from continuing operations was £96 million compared to loss before tax from continuing operations of £227 million a year ago. Loss before shareholder tax from continuing operations was £162 million compared to loss before shareholder tax from continuing operations of £447 million a year ago. Loss for the year was £11 million compared to profit for the year of £10 million a year ago. Loss attributable to equity holders of the company was £42 million compared to £21 million a year ago. Net cash inflow from operating activities was £25 million compared to net cash outflow from operating activities of £1,225 million a year ago. Purchase of property and equipment (net) was £16 million compared to £1 million a year ago. Additions to internally generated intangible assets were £4 million compared to £4 million a year ago. As per IFRS, the company’s operating profit before tax was £722 million compared to £290 million a year ago. IFRS loss after tax was £111 million compared to IFRS profit after tax of £10 million a year ago. IFRS based operating profit before tax of £302 million, £337 million excluding one-offs against £722 million; £318 million, excluding one-offs a year ago. The 2012 UK IFRS based operating profit lower than in 2011 mainly reflecting the £416 million one-off benefits reported in the prior year.
The company announced that the directors are recommending an interim dividend in respect of financial performance during the year ended December 31, 2012 of 48.5 pence per ordinary share to be paid on or before March 31, 2013.
Friends Life Mulls Options For Sesame Bankhall
Feb 11 13
Friends Life Group plc has confirmed that it has appointed Barclays Capital Inc. to review strategic options for Sesame Bankhall Group Ltd. Sesame’s Chief Executive Officer, George Higginson said: “Sesame has a strong long-term commitment to providing its members with valuable support to help them deliver the right outcomes for customers. Over the last two years, Sesame has unveiled a new broader range of propositions in areas including wealth management, restricted advice, adviser technology, mortgages and general insurance. These developments have helped Sesame to strengthen its position as the UK's largest financial services group for professional advisers, with continued growth in revenue, adviser productivity and new members.”
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