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No crisis says Standard

Standard Life says it is in no financial difficulty and that discussions
with the FSA over new solvency requirements are not crisis talks.

Responding to newspaper reports that its spare capital is likely to fall
to £2.5bn from £6bn under new reporting rules to come in next year,
the life office says it expects later this month to announce a free asset
ratio close to the 19.5 per cent announced in results published last
August.

Standard Life director of corporate affairs Gordon Arthur says: “Crisis
talks bear no relation at all to the discussions we have had with the
FSA over the last few weeks. Is Standard Life in difficulty? The answer
is no.”

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