Life and pension business up, but stakeholder down, says ABI

Despite dismal market conditions last year, new business sales of life, pension and collective investment products are up by 1% in 2002, from £11bn to £11.1bn, according to sales figures of last year released from the ABI yesterday. The ABI's sales figures for 2002 show that the IFA channel is still the most popular means of accessing individual regular premium life and pensions business, bringing in 62.2% of business during the year and just under £2.3bn premiums. Growth remains steady in the direct marketing channel, although it represents a significantly higher proportion o...