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Paternoster sees continued business growth

Paternoster has announced a 550 per cent increase in business growth over the past 12 months.

The regulated insurance company which takes responsibility for the risk associated with companies’ defined benefit pension schemes, is now the approved provider for 41 pension schemes, with 50,000 members and with over £9m of monthly annuity payments.

Paternoster chief executive Mark Wood says: ““Many of the schemes we are working with have substantially immunised themselves against the fall in equity markets by moving into fixed interest instruments. Our new business pipeline continues to grow and we anticipate up to as much as £5 billion of active quotations could transact in the remainder of the year, bringing the full year to £10-12 billion.”

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Ratio hornblower

The savings ratio is based on the latter – it is the difference between what we earn and what we spend, so it is effectively the net increase in savings held minus the net increase in debt owed.

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