Standard Life has announced a profit hike of 19% t0 £604m.
However, the group said that annuity sales would be hit this year by government pension reforms.
Assets under administration from continuing operations rose by 38% to £296.6bn, against £294bn forecast.
Chief executive David Nish said: “We have made good strategic progress during the year with the acquisition of Ignis Asset Management and the sale of our Canadian operations increasing focus on fee business and enabling a £1.75bn return to shareholders.”
