Standard Life fined £30m over annuity sales

"Whenever we get things wrong, we seek to learn from our mistakes and are absolutely focused on putting things right. Our remediation programme for affected customers is progressing well and we expect it to be completed by the end of the year."

Standard Life Assurance was put up for sale following the merger between Standard Life and asset manager Aberdeen in 2017. 

As part of the £3.28bn deal with Phoenix, Standard Life Aberdeen acquired a shareholding of just under 20 per cent of the wider group.

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