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CIS new business jumps 16 per cent

Cooperative Insurance Services has announced a 16 per cent jump in new life, pensions and unit trusts business for the first six months of the year.


Equivalent premium income was up £20.7m to £146.7m from £126m for the six months to June 30 compared to the same period last year.


CIS attributes the increase in business to sales of its Isa. Launched in April it has so far contributed £67m to its EPI figure.


Regular premium business was up 9.8 per cent on the same period last year to £107.7m from 98.1m.


Single premium business was up £106.6m to £390.2 from £283.6m last year, a 37.6 per cent increase on last year.


CIS chief general manager David Hollas says: &#34Our success is attributable to our salesforce, the largest and one of the best trained in the industry.


&#34It is also testimony to our success in quickly launching new low-cost and competitive products.&#34

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