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Equitable Life sees new business grow 6.2 per cent

The Equitable Life Assurance Society&#39s new business in 1998 grew 6.2 per cent to £2.595bn from £2.444bn in 1997.


New single premiums were up 11.6 per cent to £2.6m from £2.4m and new annual premiums were down 15.4 per cent to £418m from £494m.


Managing director Alan Nash says: &#34The increase in total new premium income by 6 per cent to in excess of £2.5bn while achieving a further reduction in the society&#39s expense ratio fell to 4 per cent from 4.1 per cent is an excellent achievement.&#34

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