Recently Britain’s biggest insurer Aviva announced a record nine months in the UK, with its British subsidiary, Norwich Union, seeing total sales of insurance savings products leaping 39 percent. And while the UK was the pick of its regions, it wasn’t half a bad period all round, with global sales up 22 percent to Â£22.7 billion. In addition to the UK, Ireland, Italy and Poland all saw substantial growth.
Then, last week, the UK’s number four insurer, the Legal General Group, announced a 22 percent rise in sales with annuities and home protection policies leading the way.
Legal and General’s chief executive, Tim Breedon, talked about the favourable UK climate, and said: “We believe this environment is set to continue.’‘
Then this morning, it was Friends Provident’s turn. It’s the UK’s fourth largest money manager, and announced a 40 percent rise in third quarter sales.
It has set itself the no mean target of tripling the value of new business over the next year.
© Investment & Business News 2013