The financial position of British mutual insurer Standard Life should become clearer tomorrow after it emerged today that talks with the Britain's financial watchdog were nearing conclusion.
Standard Life said it was confident of reporting a 'very sound' capital position, adding that policyholders need have no concern for the company's financial strength.
The update comes less than a week after it emerged the insurer was in talks with the Financial Services Authority over the interpretation of new accounting measures. Those discussions continued over the weekend, with an announcement setting out Standard Life's position expected tomorrow.
But the company also announced that it was suspending trading in its bonds until tomorrow's announcement after being informed of what it called 'unusual trading'.
Today's update came as press reports over the weekend said Standard Life was understood to be considering a £4 billion flotation on the stock market. Such a move would trigger windfalls for the society's 2.6 million policyholders.
