View more on these topics

IFA business up by a quarter at Zurich

Zurich Financial Services saw a 22 per cent leap in new business through its IFA division Zifa last year.

Equivalent premium income of £221m compared with £180m the previous year.

Zurich&#39s sales through IFAs have more than doubled in the past three years.

New life and investment premiums were up by 17 per cent to £563m from £482m EPI. Single-premium business increased by 25 per cent to £3.3bn from £2.47bn, with investment business up by 35 per cent to £2.2bn from £1.7bn.

Investment sales through Zifa increased by 46 per cent and Zurich&#39s exclusive IFA brand, Sterling, achieved a rise of 354 per cent in new business premiums to £238m from £67.2m EPI.

New business premiums through Zurich&#39s Allied Dunbar franchise network were up by 15 per cent to £304m from £263m EPI.

Zurich Life chief executive Ray Greenshields says: “Our growth in the IFA market reflects overall market growth and the shift to pensions and investment products.

“We have unique product positioning with our IFA dedicated brands and products and there is a huge programme of product development in the coming year.”


Virgin takes an IPA flier

Virgin Direct&#39s announcement of its impending individual pension account launch deserves closer inspection. The company is incorporating IPAs into its pension wrapper but the IPA will be the fund engine sitting within the pension and will not be taking a more prominent role in the scheme. Most life offices struggle to see what advantages IPAs […]

Investment View

Visiting the Alliance & Leicester IFA conference recently, I was asked whether long gilt yields are ever likely to return to levels which will allow decent annuity rates to be paid and what is a reasonable level of income that can be drawn from a portfolio? Answers to both questions are closely interlinked. I had […]

Assuresoft offers free site upgrades

Assuresoft is offering to upgrade all the IFA websites created through its IFA Window service free of charge to improve its online presence. The company says over 1,000 websites have been created using IFA Window and they will be upgraded automatically. IFA Window provides intermediaries with websites and it will offer a bigger menu of […]

ABI concedes polarisation defeat

The ABI has raised the white flag to the Treasury and FSA without a fight over phase one of the current polarisation consultation. The move has raised serious concern among IFAs that bigger life offices will steamroller through phase two without fighting the IFA cause. At an ABI polarisation working party sub-committee, Money Marketing understands […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment