A-day pushes Winterthur pensions up 122%

The company, which was taken over by Axa in June last year, has reported an increase in total new pensions business of 44% to £2.5bn, on a single premium equivalent (SPE) basis, including group pensions which Axa intends to merge into a new business unit. However Winterthur points out its pensions business is primarily single premium, which rose 122% to £1.59bn from £640m in 2005, as it says the returns are better than the higher volume but more competitive regular premium market. Although while it says there was strong growth in both single premium individual personal pensions and inco...