Friends Life new business up 41%

This growth was driven by an upsurge in the retirement income value of new business, up 78% from £36m to £64m over the same period, according to parent company Resolution's interim statement for the third quarter. The value of new protection business rose 14% over the nine month period, up from £44m to £50m. Corporate benefits value of new business rose 36% to reach £19m and Friends Life reports it has made progress on auto-enrolment as 146 schemes of 97 employers were staged by the end of September. The group achieved its savings target of £126m three months ahead of schedule. ...