Friends Prov sales dive 40%; Tesco protection deal

Business volumes fell across all areas, with individual pensions and investments hit particularly badly by the economic climate. Total life and pensions business in the first quarter of 2009 was worth £147.9m, compared with £247.1m. Business was even more depressed compared with the final quarter of 2008, fall 51% from £304.6m. Corporate pensions sales fell 45% to £69.6m, while corporate protection fared better, down just 12% to £2.2m. Individual pensions business fell dramatically, down 72% to £3.5m, while investment business fell 88% to just £0.5m. Annuities fared better, down 11...