Lombard acquisition boosts FPI business figures

Friends Provident International increased its new business by 122% in the first half of 2005 from £36m to £80m. These business figures, however, were inflated by the inclusion of Lombard International for the first time following the acquisition of the Luxembourg-based insurer last year. On a direct comparison basis, sales grew by between 15% and 20% across the two international businesses in the first half of the year. While the existing FPI business grew sales by 25% from £36m to £45m, Lombard increased new business by 11% from £32m to £35m. The margin of profitability on the new busin...