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Winterthur continues to reap A-day rewards

Winterthur Life has posted a 121 per cent increase in year-to-date single premium individual pensions business to £1bn, up from £463m in 2005.

It has also reported a 46 per cent increase in YTD 2006 new insured pensions business SPE to £1.8bn (2005: £1.2bn) while assets under management grew to £10bn, up from £9.0bn, as at September 30 2005.
In the UK pensions segment single premium insured pension sales were up 62 per cent to £1.3 billion (2005: £0.8 bn). Single premium personal Ppensions rose 137 per cent to £523 million (2005: £221m)
Income drawdown business rose 266 per cent to £228m (2005: £62 m). Annual premium group pensions increased 8 per cent to £40.5m (2005: £37.6 m)
In the UK investments segment new investment bond new business grew 72 per cent to £77.7m(2005: £45.2 m).

Winterthur Life chief executive officer Mike Kellard says: “Winterthur Life’s single premium pensions business has surged as a result of the company’s A-Day product suite and the attractiveness of its proposition to top advisers and their high net worth clients. This offering has helped the company attract record business from advisers over the last nine months and in particular the six months since the new A-Day pension rule changes in April.”


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This week in Pensions

Lots of people moan, and often justifiably so, that journalists are only interested in bad news. It was the late great trailblazer of tabloid journalism William Randolph Hearst who once said news is something somebody doesn’t want printed, all else is advertising.


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