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ABI reports jump in new business figures

New individual life and pensions business leapt 18 per cent during the second quarter of 1999 according to latest figures from the Association of British Insurers.


The figures reveal total life and pensions sales were up £1,6bn to £10.3bn for the second quarter of 1999 compared to £8.7bn for the same period last year.


Among the highlights was a31 per cent jump in total new life insurance premium business up £1.5bn to 6.2bn from £4.7bn for the same period last year.


Regular life premiums rose 12 per cent to £447m from £399m the previous year. While single premiums were up 35 per cent to £5.8bn from £4.3bn for the same period of 1998.


ABI&#39s director general Mary Francis says: &#34This was another good quarter for new life and pensions business, with overall sales levels continuing to rise strongly.&#34

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