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L&G posts dramatic rise in business in Q3

Legal & General yesterday announced a dramatic 31 per cent rise in new business sales to £340m over the last nine months. The news produced a 41p rise in the share price to 672p.


New individual pension sales rose 40.5 per cent to £106.5m and sales of life products reached £35.8m, a 22 per cent rise over the same period of last year. Pep and Unit Trust Sales were up by 36per cent to £689m.


The figures contrast with the disappointing statistics revealed by AXA Sun Life, Norwich Union and Prudential.


Legal & General says it is now ranked alongside Standard Life and Equitable Life as one of the leading performers in the industry.

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