L&G sales rise 30% in Q1 as tied channel prospers

UK savings new business rose to £267m in Q1 2010, from £206m during the same period last year. However, IFA business fell in percentage terms in Q1 2010, although sales increased. IFAs generated £208m in sales over the period compared to £191m in Q1 2009, but this was only 65% of the total business compared to 71% a year ago.  Meanwhile, tied adviser sales rose to £88m or 27%, up from £51m or 19% for the three months to 31 March 2009. Direct sale business fell slightly to £25m or 8% of total business, down from £27m or 10% for the first quarter last year. Non profit unit link...