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Clerical Medical posts 53 per cent increase in new business

Clerical Medical&#39s worldwide new retail business leapt 53 per cent in the first six months of 1999 compared to the same period last year.


The life office posted new equivalent premium income of £171m smashing its previous record from last year of £112m last year.


Total new EPI business for the UK&#39s IFA retail sector also jumped 28 per cent to £121m from £94.4m over the same period last year.


UK life business was up 50 per cent to £39.3m from £26.2m last year.


But individual pension business remained static matching last years figure of £24.5m. While group pension business grew by 30 per cent to £17.8m from £23.1m last year.


Clerical Medical&#39s chief executive Robert Walther says: &#34Our core IFA retail business in the UK has grown strongly driving up our market share. We remain exclusively committed to the IFA retail sector and remain confident in its future success.&#34

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