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Standard life

Standard life

Company: Standard Life

Brand value: US$644 million

Change since 2019: -7%

Headquarter city: Edinburgh

Category: Insurance

Year formed: 1825

Standard Life is an insurance and investment provider, working with customers who come to the brand directly, as well as via employer or financial advisor referrals. Savings and pension plans are sold in the UK, Ireland, Germany and Austria and, through a joint venture with Tianjin TEDA International, Standard Life has established a pensions and insurance presence in China, a key market because of its large and ageing population. In light of the COVID-19 pandemic, chief executive Keith Skeoch has warned that the outlook for Standard Life and the insurance sector more broadly is “turbulent”. In response, the business has been diversifying revenue streams and focusing on financial discipline. Standard Life has been widely applauded for introducing a new policy for staff who become parents, which provides nine months on full pay for all new parents, including those who adopt or have a child through surrogacy. Standard Life has also made headlines with its decision not to be part of the World Economic Forum’s meeting in Davos next year, dismissing it as divisive, especially in light of the challenges people face due to COVID-19.