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Pru announces increase in new IFA business

Prudential has posted a 24 per cent increase in weighted profits for business from its IFA channels.


First quarter results to March 31, 1999, show a 25 per cent increase for IFA business to £968m from £777m for the same period of 1998.


IFA single premium business was also up 25 per cent to £925m from £741m for last year, while annual business grew by 19 per cent to £43m from £36m.


The Prudence Bond continued its success with a sales rising by 59 per cent on last year to £434m for the quarter.


The life office reported an increase in total worldwide insurance and investment premiums by 32 per cent to £2.5bn from £1.9bn.


Egg and Prudential Banking increased their customer base to 400,000 with total deposits now in excess of £5bn.


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