Standard Life wins £100m Sterling fund court battle

Standard Life has won a legal appeal case brought by professional indemnity insurers over a £100m claim relating to losses arising from its Sterling fund.

In February, Standard Life won a judgement against 11 professional indemnity insurers. London's Commercial Court ruled in favour of the life and pensions firm in relation to 2009 losses incurred on asset-backed securities held by the Standard Life Pension Sterling Fund. However, its insurers appealed against the ruling. The appeal was today dismissed by the Court of Appeal and costs awarded to Standard Life.  The PI insurers have 28 days to seek leave to appeal to the Supreme Court. If leave to appeal is granted, Standard Life said it would be unlikely that the case would be heard ...