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R&SA boosts business in switch to IFA sales

Royal & Sun Alliance&#39s business leapt by 19 per cent last year.

Sales of life, pension and investment products jumped by £34.4m in equivalent premium income to £213.6m from £179.2m in 1999.

It says the figures provide a ringing endorsement of its IFA-focused business strategy, which now accounts for 90 per cent of its life and pension business.

The results are the first for a full trading year since the company pulled out of tied sales and increased its focus on IFAs. R&SA says it will continue to build a strategic investment house brand in the retail and institutional markets.

It says this approach is bearing fruit, with investment sales up by 68 per cent to £557.9m from £332.1m.

Sales of with-profits bonds also performed strongly, up by 21 per cent to £672.5m from £555.8m.

Managing director UK life & pensions Stephan Pater says: “Sales through IFAs increased by 11 per cent in 2000. For 2001, we will continue to focus on profitable business areas where R&SA has strong market positions and can add value to IFA relationships.”

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