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Britannic booms on IFA business

Britannic Assurance new business figures have leapt by 47 per cent, helped

by the strong performance of the group&#39s IFA brands, Evergreen and

Britannic Asset Management.

Sales soared in the first half of this year to £52.6m from

£35.8m in the same periodlast year.

IFA business for unittrusts, Isas and with-profit bonds hit £84.5m.

Overall new single-premium unit trust business, including Peps and Isas,

rocketed by 768 per cent to £130.3m from £15m last year.

BAM is now the group&#39s leading distribution channelto IFAs. Britannic says

in the first six months it conducted business with over 1,200 IFAs, which

is 300 more than in the previous six months.

Britannic&#39s recently launched IFA-only retirement specialist arm Evergreen

has done £1.6m-worth of single-premium business despite only getting

authorisation in April.

Life and pension single-premium business increased to £129.4m from


Britannic chief executive Brian Shaw says: “Our IFA channel is developing

very satisfactorily. The impact of acquiring Britannic Asset Management is

seen in the growth of our IFA channel and in investment product business.

“It is too early to assess the impact of Evergreen but we are confident

the business will continue to do well. We certainly see the IFA

distribution of our group rapidly expanding with market-leading products.”


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