In its Q2 2008 results, released today, the trade body recorded £6.86bn in single premium investment bond business, down 26 per cent compared to Q2 2007.
The same results saw regular premium protection business in Q2 2008 increase 13.6 per to £1.59bn, compared to £1.42bn during Q2 2007.
However, single premium protection business dipped 9.5 per cent from £20.7bn in Q2 2007 to £18.73bn this year.
Experiencing a similar drop of 11.2 per cent was single premium individual pensions, which recorded £5.99bn in Q2 2008 down from £6.75bn for the same period last year.
ABI spokesman Jon French says: “‘To a certain extent the data reflects conditions in the overall economy. Bond sales have suffered for a variety of reasons, including the changes to the Capital Gains Tax regime.”