Life and pensions new business has climbed to £4.503bn for Q2 2007, a 10.7% increase over the corresponding period last year.
The ABI results also showed total single premium new business reached £28.463bn, 20.8% up from £23.558bn in Q2 2006. However, total regular premium new business has dipped, falling to £1.657bn for Q2, 3.2% down from £1.713bn at the same time last year. The ABI says the fall is “mainly due to an effect on the timing of sales caused by the A-Day changes in 2006”. Regular premium new business increased from Q1 2007 up by 7.0%, from £1.548bn last year. Individual pensions Q2 new business sales had a sharp 19% rise on 2006, up to £1.615bn; while total single premium individual pensions increa...
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