L&G has weathered the financial storm so far this year with its UK and worldwide new business both up 5% over the past nine months to 30 September.
On the UK side, new business was £1,047m compared to £993m for the same period in 2007. Its risk business, which includes protection and annuities, reported an overall rise in new business of 29% to £381m. However, new business on the protection side was lower over the period at £158m,compared to £168m in 2007, as the slowing housing market continued to have some impact on individual protection sales. L&G says it has tried to increase it focus on non mortgage related products this year including family protection and high sum assured business. Group protection rose 13% as employ...
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