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Friends’ business up 33% in first half

Friends Provident saw total life and pensions business rise 33 per cent from 212m to 282m in the first half of 2005 but says the market is difficult to call in the run up to A day.

The insurer says margins held up but business volumes in the run up and immediate aftermath of A day are difficult to predict.

Friends Prov International managing director Rocco Sepe says: “Margins have held up well and we have not seen any because of multi-tie deals. The market is very difficult to call in terms of how it goes in the run-up to immediately and immediately post.”

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