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CU business boosted by strong single premiums

Commercial Union&#39s life and pension profits rose by 10 per cent for the first nine months of 1997 to £196m from £178m in the same period last year.

New life business rose by 7.5 per cent to £42.6m from £39.6m on an equivalent premium income basis.

The company&#39s pension business leapt by 40 per cent to £25.3m from £18m.

The company, which has £60bn under management, says strong performance in single-premium life and pension business, which rose by 23 per cent to £322m from £261m, was helped by strong sales of single-premium pensions and its Premier Investment Bond.

CU&#39s new investment business, including unit trusts, Peps and Ucits, increased by 40 per cent from £165m to £231m.

Chief executive John Carter says: "The group&#39s future prospects are underpinned by our strategy of developing our worldwide life and sav-ings businesses."


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Out from the long grass? An IT and NI merger

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