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people to vent frustration. Meetings were considered a success if
                   anger was turned to disappointment.


                   By 2005 Standard Life had returned to profit after reporting a loss
                   for the previous year. The brand had proven resilient.


                   On 31 May 2006, Standard Life's voting members voted
                   overwhelmingly in favour of the Special Resolution for the
                   demutualisation of The Standard Life Assurance Company and the
                   flotation of Standard Life plc on the London Stock Exchange.
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