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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


CGU business up 18 per cent

CGU Life has also reported an 18 per cent rise in new business over the first nine months of the year.The life office says its new business for the year to date is up to £379m EPI from £322m EPI the previous year.New business through its IFA channel also leapt 10 per cent to £251m […]

Rechabite Friendly Society launches savings plan for teetotallers

The Rechabite Friendly Society is launching a five year single premium savings plan aimed at teetotallers.The plan guarantees to pay non-drinkers a guaranteed bonus of 7 per cent in the first year, for a minimum investment of £1,000.The traditional with-profits savings plan is available to December 31, to individuals who abstain from alcohol.Rechabite chief executive […]

Scottish Widows calls for waiver to remain under stakeholder

Scottish Widows has called for waiver of contribution to remain an under the new contribution regime outlined in the Government&#39s Consultation Brief Number 6 on stakeholder pensions.Waiver of contribution benefit currently allows personal pension policyholders to continue building their pension fund during prolonged bouts of illness or disability.But the Government has brought into question the […]

Cartered Istitute of Taxation calls for simpler tax system

The Chartered Institute of Taxation is calling on Chancellor of the Exchequer Gordon Brown to simplify the tax rules for pensioners in his next Budget.The Low Incomes Tax Reform Group, a sub-committee of the CIT, believes the Chancellor is sympathetic to their demands.These include the issuing of tax exemption certificates to the poorest pensioners taking […]


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