The offshore life market looks to be picking up pace rapidly, with Scottish Equitable International and Prudential International seeing new business grow massively last year.
ScotEq International recorded its most success-ful year, with sales into the UK market up by 83 per cent last year. Single-pre-mium investment sales reached £412m compared with £225m in 2002.
It is also believed that Pru International has seen substantial growth along similar lines to ScotEq but Prudential would not comment as it has yet to publish its subsidiary's results.
ScotEq International says it is seeing a move back towards higher equity content but at the lower end of the risk spectrum.
Investment portfolio managing director David Healy says: “ScotEq International's Dublin product range has really hit the mark with UK IFAs. It has been an outstanding year for us. We are now firmly positioned as one of the top three offshore providers in the UK.”