FPI new sales boosted as firm focuses on international growth

New sales are up from £186m in 2007 helped partly by the fall in sterling. Sales rose by 5% on a consistent currency basis. However, due to the difficult economic climate FPI's assets under management plunged from 4,722m in 2007 to £4,526m in 2008. Despite the market conditions, Friends Provident will continue to prioritise international growth and focus on FPI and Lombard, says Rocco Sepe, managing director, International at the firm. Almost half of FPI's business comes from Asia. New business increased by £3m to £103m in 2008 and the firm intends to grow its Singapore office to be as ...