Standard Life H1 operating profit rises 6 percent

LONDON, Aug 4 (Reuters) - British insurer and asset manager Standard Life (LSE: SL.L - news) 's operating pre-tax profit rose 6 percent to 290 million pounds ($452.75 million) in its fiscal first half, with a drop in annuity business affecting performance.

Assets under administration rose 2 percent from Dec 2014 to 302.1 billion pounds in volatile markets, the firm said in a trading statement.

Standard Life reported a 39 million pound reduction in its spread/risk margin in the six months to June 30 compared with the previous year, due to lower annuity sales and a reduced benefit from asset liability management.

It said it expected a full-year contribution from annuity new business to drop by between 10 and 15 million pounds and contribution from asset liability management to drop by between 30 and 40 million pounds compared to 2014.

The insurer said it would pay a dividend of 6.02 pence per share, up 7.5 percent. ($1 = 0.6405 pounds) (Reporting by Carolyn Cohn, editing by Sinead Cruise)