Standard Life has set its stall firmly in the single premium investment-led market, as new business figures released this morning reveal the company is seeing growth on the back of its new direction.
According to Q1 2006 business figures, the Edinburgh-based mutual life insurer - which is now seeking the member support for an LSE listing this summer - saw UK life and pensions annual premium equivalent sales increased by 13% to £263m, as a result of improved interest in its range of single premium self-invested personal pensions, investment bonds, trustee investment pension plans and personal pensions offerings, Single premium business rose by 52% to £1.5bn, and accounted for 46% of its UK life and pensions APE book of new business, led in the main by a huge jump in sipp sales – up 79%...
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