United Assurance new industrial branch based business fell 34 per cent in the six months to June 30.
The drop to £2.7m from £4.1m for the same period the previous year, follows United's decision to withdraw from the industrial area of business on May 1.
But the life office reported a 13 per cent jump in new branch based investment business over the first six months.
It says equivalent premium income for unit trust, Pep and Isa sales was up to £16m from £14.1m for the first six months of the years compared to the same period of 1998.
Regular premium branch business was up 14 per cent over the period to £12.9m from £11.3m the previous year.
Single premium life and pensions business was up to £13.8m from £12.3m, while single premium unit trust, Pep and Isa sales were up to £17.5m from £15.4m in 1998.