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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.”


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