Skandia and RBS announce 31% and 42% rise in profits from international sales respectively

Offshore companies are seeing increases in international sales, with both Royal Skandia and Royal Bank of Scotland (RBS) reporting strong profits in this area. On the life side, Skandia UK's offshore arm, Royal Skandia reported an increase in equivalent premium income (EPI) sales growth of 31% for 2005 compared to 2004. According to Skandia, this growth was largely driven by strong sales of single premium products, which increased by 44%, as well as institutional support for Royal Skandia products, particularly in the UK, where they were largely used for inheritance tax mitigation. ...