Abbey seeks double pensions market share - papers 24th July

According to The Daily Telegraph, the move is the biggest push into the investment and pensions market by Abbey since the bank set up Abbey National Life in 1993. It comes after Abbey agreed to sell its life insurance businesses for £3.6bn in June to Resolution, the leading consolidator of closed life funds. Under the plan, Abbey is aiming to increase annual premium income (API) for investment and pensions business to more than £2bn and possibly £2.5bn by 2008. Last year, Abbey's investment and pensions API rose by 40% to almost £1bn. Abbey is aiming to expand the number of financi...