There has been steady growth in life and pensions sales during the first quarter of 2007, according to new business figures from ABI members.
Total APE new business was £4.115bn, an increase of 21.9% from £3,377bn in Q1 2006. One of the top performers was individual pensions business with APE sales in Q1 2007 of £1.350bn, an increase of 35.8% from £994m in Q1 2006. In the single premium area, pension, annuities and income drawdown sales were also strong up 64pc in total compared to the same period in 2006. Savings & investments were up 28.1% although they fell 14.5% for new regular premium sales. However, stakeholder products performed poorly in both regular and single premium areas with sales down 31.5% and 30.9% respec...
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