Standard Life’s profit drops

Standard Life declared an $80 million profit today for the first half of 2012, compared to $256 million for the same period in 2011.

The drop reflects how low interest rates are affecting insurers.

Premiums and deposits increased 13% to $1.3 million in Q2 2012, compared to $1.2 in 2011.

Such growth was a result of solid performance in the company’s group savings and retirement business, which was up 15%, and its retail business, which was up 16%.

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