Standard Life saw its life and pensions sales rise by over half in 2006 on the back of key changes at A-Day and a redirection of pensions investments towards sipps.
According to figures released this morning by Standard Life Group, the UK division generated sales on a true single and regular premiums business recording – also know as PVNBP (present value of new business premiums) – of £11.4bn in 2006, a rise of 69% on the previous year, or 54% to £1.44bn on an APE (annual premium equivalent of 100% single premium and 10% regular premium basis). Key to the growth of the business was its push into the self-invested personal pensions and drawdown sectors as this lifted sales by 150% to £395m over the year, dominated heavily by a move of single premium as...
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