The Directors present their annual report on the affairs of the Standard Life Group (the Group), together with the European Embedded Value (EEV), International Financial Reporting Standards (IFRS) and Company financial statements and auditors’ reports, for the year ended 31 December 2008.
Reporting for the year ended 31 December 2008
The Company is the holding company of the Group. The principal activities of the Group are to provide long-term savings and pensions, protection, healthcare, mortgages and investment management products and solutions. Further details on the activities of the Company’s principal subsidiary undertakings and their branches are given in the Group overview and Business segment performance sections of the Business review. The main trends and factors likely to affect the future development, performance and position of the Group are outlined in the Group overview section of the Business review. Reviews of the operating and financial performance of the Group for the year ended 31 December 2008, of any important events after the year end and of likely future developments are given in the Group Chief Executive’s statement and the Business review.
Together with the Chairman’s statement and the Corporate responsibility section, the Group Chief Executive’s statement and the Business review form part of this report. The Corporate governance report is submitted by the Board, and the Directors’ remuneration report is submitted on behalf of the Board.
The results of the Group on both EEV and IFRS bases are presented in the sections EEV - Group and IFRS - Group of the Business review. A detailed description of the basis of preparation for IFRS (including underlying profit) and for EEV results is set out in the Basis of preparation section within the Business Review . There is information about the Group’s use of financial instruments and related financial risk management matters in Note 39 to the Group financial statements.
The Directors’ responsibility statement follows this report and a cautionary comment concerning forward-looking statements is made below.
Forward-looking statements
The Chairman’s statement, Group Chief Executive’s statement, Business review and other sections of this Annual Report and Accounts 2008 may contain forward-looking statements about the Group’s current plans, goals and expectations relating to future financial conditions, performance, results, strategy and objectives. Statements containing the words: ‘believes’, ‘intends’, ‘expects’, ‘plans’, ‘seeks’ and ‘anticipates’, and other words of similar meaning are forward-looking. All forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that are beyond the Group’s control.
As a result, the Group’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set out in the forward-looking statements. The Company will not undertake any obligation to update any of the forward-looking statements in this Annual Report and Accounts 2008.
Back to top