New life and pensions business rose 8.1% in Q3 2007 compared to the same period in 2006 to £3.648bn, according to the Association of British Insurers (ABI).
The rise is for sales calculated on an APE (annual premium equivalent) basis which is an industry standard measure made up of total regular premium new business plus one-tenth of single premium new business. The new figures show total single premium new business in Q3 2007 was £22.539bn; an increase of 6.1% from £21.249bn in Q3 2006. Total regular premium new business was £1.394bn over the quarter which is an increase of 11.7% from £1.248bn in Q3 last year. Individual pensions new business was £1.359bn in Q3 2007 a rise of 6.3% from £1.279m in Q3 2006. However, total single premium indi...
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