Demand for life insurance and pension policies is continuing to rise according to the Association of British Insurers.
Its third quarter figures sales of new life policies, individual pensions and collective investment schemes rose by 8 per cent to £7.5bn.
Single premiums rose by 16 per cent to £4.3bn and new annual premiums rose 8 per cent to £0.4bn.
Individual pension new premiums fell by 0.3 per cent to £1.5bn. Single premiums fell by 4 per cent to £1.2bn and new annual premiums were unchanged.
The ABI says this decrease is a result of changes in data collection.
The total invested in collective investment schemes was down 4 per cent to £1.4bn.