SL's individual pension business up almost a quarter

The second quarter of 2004 saw total business for the Edinburgh-based company up 8% in annual premium equivalent terms. Individual pensions business was up 21% in APE terms, while group pensions business experienced a 2% increase. Scottish Life's pension figures were mainly lifted by the sales of annual premiums, which experienced an increase of 18% over the last twelve months, as opposed to a fall of 3% in the sales of single premiums. Brian Duffin, chief executive of Scottish Life, says: "I'm very pleased that we have continued to perform well in what has been a relatively flat p...