The Association of International Life Offices (AILO) have issued new business figures for the offshore market recently. They make impressive reading.
They show the total single premiums worldwide totalled almost £9.3bn, and the regular premium figures totalled over £368,000. So, using the single premium + ten times the annual premium basis, this means the grand total was almost £13bn. This is a 20% increase over the previous year. For the single premium, the category which attracted most business was the “pooled- personalised bond” which is often called an open architecture bond. At over £6bn, this constitutes around 2/3rds of all the business written. The dominance of this product type is, no doubt, a reflection of the attraction it...
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