NU life and pension sales down in 2007

Total pension sales dropped 15% to £3.52bn, which NU attributes to the A-Day effect tapering away. SIPP sales grew strongly though, climbing to £383m from £101m in 2006. NU’s total sales, buoyed by a solid investment side, jumped 5% for the period, to £10.95bn while new business margins increased 3.1%. Bond sales were up 13% to £2.86bn, as cautious investors looked at popular with-profits, guaranteed and balanced managed funds. With-profit sales increased 50% to £865m, but unit-linked sales dropped £52m to £1.66bn. Collective investment sales climbed 31% to £2.2bn, with strong property...