Keith Skeoch, chief executive of Standard Life Investments, wants his firm to be thought of as “the new kid on the block” in the market for managing other insurers’ money, following his acquisition of Ignis Asset Management a year ago.

He said: "This was us announcing that Standard Life Investments is very effectively open to manage large mandates for other insurance companies. As a result of the Ignis deal, we now manage 15 insurance mandates in five countries, and two very large books of insurance money - Standard Life and Phoenix Group. That's £154 billion, or about 10% of the UK marketplace. We have been talking to other insurance companies since, so it has done what it was intended to do."