With-profits sales wither

Adviser sales of single premium with-profits bonds have fallen from £9.57bn in 2001 to just £6.38bn for 2002, according to research compiled by Prudential. The life offices figures show that in 1999, with-profits bond sales through intermediaries amounted to £8bn, increasing in 2001 to a peak of £9.57bn before falling by a third in 2002. The 33% drop between 2001 and 2002 can be attributed to falling equity returns, falling bonus rates and market value reductions said Icky Iqbal, director at Deloitte. He predicted sales would not recover significantly this year. He added: 'Sales will c...