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Royal & SunAlliance report 20.2 per cent increase in new business


Royal & SunAlliance has reported a 20.2 per cent rise in new business for the first nine months of the year.


The figures reveal equivalent premium income was up by £31.8m to £189.2m from £157.4m over the same period of last year.


The rise comes on the back of a 37.5 per cent leap in IFA business to £606.2m from £440.8m the in 1998.


The rise in IFAs sales follows a &#34strategic refocusing on the IFA market&#34 announced in September 1999, which helped push sales up by 62 per cent in the third quarter alone.


R&SA Life & Unit Trust Operations managing director Stephan Pater says: &#34In the third quarter we announced our strategic refocusing on the IFA market. IFAs are the driving force behind our new approach and we are delighted with the increased support they are giving us.


&#34We have a robust investment management process and good risk controls, which are delivering consistently excellent long term performance. This is without doubt reinforcing our track record and reputation in the market as one of the premier active fund managers.&#34

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