7th Jun 2006 07:02
Friends Provident PLC07 June 2006 7 June 2006 Friends Provident plcPresentation to analysts and investors - International life & pensions business Friends Provident will hold a presentation for analysts and investors on itsinternational cross-border businesses at 10.30am today, Wednesday 7 June 2006,in the Auditorium, JPMorgan Cazenove, 20 Moorgate, London, EC2R 6DA. Rocco Sepe, managing director, International Friends Provident Life andPensions, said: "The international operations made excellent progress last year with an 80%increase in underlying profits* following our transformational acquisition ofLombard and strong growth in Friends Provident International. "We intend to build on these strong foundations with new developments, such asthe initiatives in Singapore, Germany and Switzerland that we are announcingtoday. These, together with deeper penetration of existing partnerships andterritories, provide significant opportunities to drive further sustainableprofitable growth." Summary of the new initiatives to be announced at today's presentation: • Friends Provident International (FPI) announces it has secured a branch licence to operate in Singapore, the major centre for wealth management in South Asia. The office is due to open in September 2006 and FPI plans to be the first in this market to launch a portfolio bond for High Net Worth clients. • FPI also announces plans to market personal pensions products specifically in the German market. The products, which include a range of flexible features, will be rolled out with a limited product launch in Summer 2006 before a marketing campaign through over 100 selected broker firms for the key fourth quarter sales season. • Lombard announces that it has applied to open a branch in Switzerland to be geographically and culturally close to the world's largest private banking market. The presentation will also provide a full description of how the FriendsProvident Group has been transformed by the growth of its International Life &Pensions business. - Ends - For further information, please contact: Nick Boakes Friends Provident plc 0845 641 7814Di Skidmore Friends Provident plc 0845 641 7833Chris Ford Friends Provident plc 0845 641 7832Sandra Grandison Friends Provident plc 0845 641 7834Simon Moyse Finsbury Limited 020 7251 3801 Ref: G090 Notes to editors: * European Embedded Value underlying profit before tax up 80% to £106m in 2005 1. Presentations by Rocco Sepe, managing director, International Friends Provident Life and Pensions, Paul Tunnicliffe, director of International Operations and David Steinegger, chief executive of Lombard will be webcast live and will be available at 10.30am www.friendsprovident.com/presentations. A transcript of the presentation and Q&A session will also be available on our website from 2.00pm today (7 June 2006). 2. Financial reporting dates Friends Provident plc Group Interim Results 8 August 2006 and Life & Pensions Quarter 2 New Business Announcement Friends Provident Life & Pensions Quarter 3 New 31 October 2006 Business Announcement 3. Certain statements contained in this announcement constitute 'forward-looking statements'. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements, from time to time, of Friends Provident plc, its subsidiaries and subsidiary undertakings or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include, among others, adverse changes to laws or regulations; risks in respect of taxation; unforeseen liabilities from product reviews; asset shortfalls against product liabilities; changes in the general economic environment; levels and trends in mortality and morbidity; restrictions on access to product distribution channels; increased competition; and the ability to attract and retain personnel. These forward-looking statements are made only as at the date of this announcement and, save where required in order to comply with the Listing Rules, there is no obligation on Friends Provident plc to update such forward-looking statements. About Friends ProvidentFriends Provident, the FTSE 100 company, is a major financial services groupcomprising three core businesses: • A top ten UK Life & Pensions company• Leading international cross-border life businesses• One of the largest asset managers in Europe The business, founded in 1832 to alleviate the hardship of families facingmisfortune, is still underpinned by ethical principles. We have built anaward-winning reputation for using technology innovatively, enabling our peopleto deliver excellent levels of service that we believe are unrivalled in ourindustry, setting us apart from competitors. UK Life & Pensions• Has 2.5 million customers• Provides a comprehensive range of life protection, income protection, pensions and investment products for individual customers and corporate clients.• Distribution primarily through IFAs but with an increasing proportion from banks, building societies and other strategic partnerships International Life & PensionsOperating through 2 companies:• Friends Provident International (FPI), one of the top five offshore life companies operating in the cross-border market. Based in Isle of Man selling savings, bond and protection products into Asia, the Middle East, Continental Europe and the UK• Lombard, Luxembourg-based life assurance company founded in 1991 and acquired by Friends Provident in January 2005. It provides life assurance-based wealth planning solutions and is the largest pan-European life assurance company of its kind More 'at a glance' information available at www.friendsprovident.com/fastfactsFriends Provident media image library is available atwww.friendsprovident.com/imagelibrary a Newscast login is required. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Fondul Proprietatea