Friends Life Group Posts Increase In 2014 Profit, Raises Dividend

reported a 38% gain in its 2014 profit and lifted its dividend for the full year. Friends Life posted a pretax operating profit of 556 million pounds ($852.2 million), versus a year-ago profit of GBP402 million. Pretax profit dropped to GBP64 million versus GBP415 million. Total claims, benefits and expenses increased to GBP10.98 billion, compared to GBP9.66 billion. The company's board declared a dividend of 31.15 pence per share for the full year, versus 21.14 pence a year ago.