View more on these topics

Paternoster business grows over 35 per cent in Q1

Paternoster’s buy-out sales have grown by over 35 per cent in quarter one of 2008 to £520m compared with £131m in quarter four last year.

At the end of the first quarter, Paternoster says it has taken on a further eight schemes which have transferred a total of £520m of assets to the company.

This brings the total assets transferred to Paternoster to £2.1bn.

Paternoster has now been approved as the annuity provider to members of 37 schemes representing 22,800 pensioners, 10,000 deferred members and over £7m of monthly annuity payments.

Paternoster chief executive Mark Wood says: “The overall business secured in the market in Q1 2008 exceeds £2.5bn. In twelve weeks, the total business written is the same as that written in the previous twelve months. The market appears to be growing very rapidly.”

Recommended

Adviser Fund Index – Super powers

The increasing desire for investment choices outside traditional asset classes to protect against falls in the market has put investor focus on alternatives.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com