Standard Life PLC (SL.L), a British life assurance, pensions, savings services provider, on Monday reported a narrower pre-tax loss for the full year.
For the 12-month period to December 31, 2025, the company recorded a loss before tax of GBP 432 million, narrower than a loss of GBP 1.454 billion last year. Net loss was GBP 394 million as against a net loss of GBP 1.078 billion in the previous year.
This narrower loss reflects narrower negative economic variances. Economic variances stood at negative GBP 604 million, compared with negative GBP 1.297 billion a year ago. These were adverse hedging-related economic variances, primarily from equity markets.
Profit before economics, tax, and NCI was GBP 123 million as against the prior year's loss of GBP 169 million.
Amortization and impairment of intangibles declined to GBP 233 million from GBP 270 million in the previous year. Other non-operating losses were GBP 396 million, compared with GBP 520 million in 2024. Other non-operating losses reflect planned investment spending across the company's strategic priorities, with other one-off items.
Adjusted operating profit was GBP 945 million, up from GBP 825 million last year.
The company's adjusted operating profit from Pensions and Savings business was GBP 389 million, higher than GBP 316 million. This increase reflects the benefit from growing assets and improved cost efficiencies.
Adjusted operating profit from Retirement Solutions' also increased to GBP 563 million from GBP 474 million, supported by a higher CSM release reflecting ongoing growth of the annuity book, higher portfolio optimization actions, and improved cost efficiencies.
For fiscal 2025, Standard Life will pay a final dividend of 28.05 pence per share on May 20 to the shareholders of record as of April 10. This final dividend will bring the total dividend for the year to 55.40 pence per share, higher than the 54 pence per share of last year.
Looking ahead, for fiscal 2026, Standard Life anticipates adjusted operating profit of around GBP 1.1 billion.
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