The firm Standard Life has seen a strong rise in its profits boosted by the insurance business. This financial giant has reported a 71% rise in its revenue because of rise in the premiums and deposits against the withdrawals.

The net income in the first six months for the company was recorded 5.3 billion euros, which rose up from 3.1 billion euros from the start of last year. The revenue also rose by 5% and reached to 179 billion in the first half of this year compared to the revenue at the end of last year.

The Edinburgh based firm has also seen a 52% hike in its third party management services by its Standard Life Investments Division which reached to 63 billion euros.

The company officials are quite pleased with the performance of the company in such a recession period. The interim dividend also rose up by 4.8%. Mr. David Nish replaced Sir Sandy Crombie as the chief executive of the company in the start of this year. He has said the economic downturn has pushed people to save more and the company has been much focused to provide good deals to the people.