Standard Life has reported a substantial rise in first-half operating profits, with the insurer's performance having been boosted by strong sales of more profitable life and pension products.
Operating profit on a European embedded value (EEV) basis climbed by 71 per cent, to £353 million, in the six months to the end of June.
That compared to a first-half operating profit of £206 million in 2006.
"Our 2007 interim results show that Standard Life is growing strongly and profitably," said group chief executive Sandy Crombie.
"We have made significant progress in increasing margin in our UK business over the first half of 2007, thanks to strong growth in higher margin products supported by the continued improvement in underlying efficiency," he added.
Standard Life says it expects its UK life and pensions business to exceed market growth over the coming months as it continues to enhance its self-invested personal pension (Sipp) proposition.
The relaxation of pension investment rule last year has stimulated interest in Sipps, which generate greater profits than standard pension plans.
Standard Life said that it also achieved a 29 per cent increase in gross mortgage lending, which climbed to £1.6 billion in the first-half, despite a competitive market.
The insurer is also confident of meeting its target of achieving a return of between nine and ten per cent on embedded value over the year.
Standard Life, which was first listed on the London stock exchange last July, added that it would pay an interim dividend of 3.8p per share to its investors.
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