Stan Life pension sales dived 25% in Q4

In its annual results for 2008, the group says life and pensions UK sales were down 9% for the full year, but declined rapidly following the collapse of Lehman Brothers and the crisis in British banking. Investment and savings sales performed better, declining by just 4% during 2008, and Standard Life says it is confident it can deal with the challenging market conditions ahead. Life and pensions sales fell to £12.2bn, down from £13.4bn during 2007, but the fourth quarter of 2008 saw a dramatic drop in sales volumes, down to £2.4bn from £3.2bn. Standard Life says the sudden drop in sa...