LIFE INSURER Legal & General (L&G) reported better-than-expected first quarter sales, helped by changes to pension rules and demand for mortgage protection products, reports the Daily Telegraph.
In the UK, new business rose 28% to £363m on an annual premium equivalent basis while worldwide new business was up 27% to £390m in the first quarter. The paper quotes Tim Breedon, chief executive of L&G saying the results showed: "continued new business momentum, reflecting the strength of the protection, savings and investment markets in the UK and of our position within them." In the UK, he said, "We saw good performance in retail protection sales as the housing market showed further signs of recovery. There was increased activity in the retail pensions market, with customers and advis...
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