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Standard Life business soars by 75% to £1bn

Standard Life has taken £1bn in new business on an equivalent premium income basis since Nov-ember 16, 2000, an inc-rease of 75 per cent from £571m in the previous year.

The figures relate to the period November 16, 2000 to October 15, 2001. Further details of the full year&#39s new business figures will be published in December. Personal pension sales in this period, including group, personal and executive pensions, totalled £5.8m.

Standard says the inc-rease is due mainly to a steep rise in pension sales and being able to attract customers with its financial strength in times of market volatility.

Outgoing managing dir-ector Scott Bell says: “This is a remarkable achievement for Standard Life.I have no doubt that achieving £1bn of new business, much of which has arisen from the sale of pensions, is due to our financial strength and mutual status.”

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