View more on these topics

Life and pension sales edge up in 2004

Life and pension business rose by 5.4 per cent last years to £10.2bn on an annual premium equivalent basis, according to figures from the Association of British Insurers.

Individual single-premium business rose by 9.5 per cent to £48.7bn.

Sales of regular-premium employer-sponsored stakeholder pensions increased by 6.2 per cent to £388m. Group pension sales rose after two years of falls, with regular-premium business up by 4.3 per cent to £867m. The rise in overall regular-premium business was driven by growth in group business while individual regular-premium life and pension sales hit five-year and three-year lows respectively. Individual regular-premium pension business fell slightly from £1.864bn to £1.87bn in 2004. Individual regular-premium life sales dropped by 16 per cent from £1.29bn to £1.08bn last year.

ABI head of life and pensions Chris Kenny says: “Overall, these figures show a steady increase in UK savings. However we must not be complacent. There remains a significant shortfall in overall saving. Not enough people are making sound, regular financial arrangements for their retirement.”


Question time on exam cash

What has been gained by amalgamating the LIA with Sofa and producing something called the Personal Finance Society? The answer is, more money for the CII.

Free tax advice for Welsh local businesses

Free tax advice for local businesses will be available by Customs and Excise and the Inland Revenue at an open day sponsored by the Welsh Assembly. Thursday February 24 sees a selection of public and private sector organisations congregating at the Welsh Conference Centre in Llandudno, at the latest in a series of open days […]

Year of fear for GI clients

General insurance customers could be left without access to the Financial Services Compensation Scheme because of a backlog of processing of interim-authorised firms.


News and expert analysis straight to your inbox

Sign up


    Leave a comment