Successful flotation for Standard Life - Aviva buys AmerUS
The demutualisation of Standard Life Insurance from Scotland has been successfully completed today with their flotation. In my opinion, the flotation came much too late. As a ex-member (now shareholder) and customer of Standard Life, a middling disappointment. The flotation will now hopefully set off the often predicted consolidation of the British insurance market. The taking over of Standard Life which I expect should then bring the customers and new shareholders of Standard Life the profits missed out on by the late flotation.
The largest insurer in Britain - Aviva - has not been able to take over their rival Prudential. I have written about this on the 27.03.2006 on my weblog. Aviva has now taken over an American insurer, AmerUS. The strategic reasons for this, etc., are completely unclear to me.
