Legal & General's new UK life and pensions sales rose 8% to a record £1,16bn in 2007, according to select figures ahead of the group's annual results.
The provider attributes the growth partly to its postcode-rated annuity launch in November which boosted individual annuities by 24%.
The rising pensions business offset a 3% drop in protection sales, which amounted to £223m last year, as mortgage-related products suffered from the fallout of the credit crunch.
Non-profit pensions rose from £207m in 2006 to £253m in 2007 as the beneficial effect of A-Day continued.
Tim Breedon, group chief executive, says: “The UK marketplace is likely to prove just as challenging in 2008 as it was in the second half of 2007, with the economy forecast to soften as it digests the credit crunch..”
The group will release its full results for 2007 on January 29.
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