Almost 9,000 Irish people have still to claim 4.3 million shares, according to a company spokeswoman. These were valued at £2.30 ( 3.40) each when Standard Life was listed in London on 10 July, but have risen to £2.50 since.

Close to one in 10 of the company's Irish customers entitled to free shares have failed to take up the offer, the spokeswoman said. The 4.3 million shares have been placed in a trust and can be claimed up to 10 years from the date of the flotation. Any dividends payable on the shares, as well as the loyalty shares that will be awarded next year, will be held in the trust and distributed when customers come forward.

Each eligible shareholder is entitled to at least 185 free shares, worth 690 at current prices.

Some 2.4 million Standard Life customers worldwide, mostly British, were entitled to the free shares. As many as 350,000 had not come forward by flotation, though this number is now down to 260,000, the company said.

All 94,000 eligible members in Ireland were contacted in October to confirm addresses and policy details.

Another opportunity came at the special general meeting in May at which members approved the flotation, and members were again contacted in July to see if they wanted the free shares or their cash equivalent.

Further efforts are to be made in the coming months to unite customers with their entitlements.