Pru UK sales fall but with-profits prospers

The insurer reported retail sales over the first nine months also fell by 13% to £531m. Individual annuity sales were particularly disappointing for the first nine months of 2009, down 21% on the same period last year to APE £164m, as a result of a reduction of 13% in average case sizes and the group's strict pricing discipline. The stock market falls seen in 2008 and early 2009 also impacted on other product lines, including offshore bonds, but these sales falls were partially offset by the continued strength of with-profits sales. Sales of with-profits bonds of APE £101m for the first...