LONDON (Reuters) - Standard Life Aberdeen (L:SLA) on Wednesday said it expected to save an extra 100 million pounds a year in 'efficiency savings' by 2020 after it completes the sale of its insurance business to Phoenix Group (L:PHNX).
The company, which on Tuesday said it planned to return as much as 1.75 billion pounds to investors, said the savings would come as a result of its revised operating model and were in addition to cost synergies of 250 million pounds a year.