Growth of Standard Life's sales has been heavily dominated this year by the pension reforms of A-Day, according to the life insurer's latest business figures.
Details of the firms’ new business figures for the nine months to September 30th, 2006 show all sectors of the business saw growth over the previous period in 2005, but those areas which are retirement-related have seen the most significant gains. More specifically, aside from the firm’s growth third-party funds under management business – which is also up 19% on the previous period to £34.7bn – single premium pensions business is still the dominant new business driver, as SP sipp and income drawdown business increased 87% on the nine months to Sept 30th, 2005, to £1.45bn and individual p...
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