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Friends Provident reconfirms "strong" capital position

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Date: Friday 10 Oct 2008

LONDON (ShareCast) - Insurer Friends Provident released a statement late Friday reconfirming its strong capital position.

"In the light of the prevailing economic uncertainty, Friends Provident plc reconfirms its strong capital position by announcing that its Insurance Groups Directive (IGD) surplus at 30 September has not materially changed from the approximately £1bn reported at 30 June 2008," it said.

A fall of 30% in equity prices from current levels would have no material impact on this surplus, it added.

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