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Winterthur delivers 36 per cent growth in pensions business

Winterthur’s wealth management business has reported a 36 per cent increase in new individual pensions business in the first nine months of this year.

Individual pensions new business rose from £1.12bn in the first nine months of 2006 to £1.52bn in the same period this year.

Winterthur’s assets under management were up from £9.9bn to £11.3bn during the same period.

In the UK pensions segment, single premium personal pensions rose 58 per cent to £828m from £522m, and income withdrawal rose 86 per cent to £425m from £228m in the first nine months of 2006.

New investment bond new business grew 9 per cent to £85m from £78m.

AXA & Winterthur Wealth Management CEO Mike Kellard says: “I am pleased to be able to report another strong set of business results for Winterthur. This is further confirmation that our proposition is well-positioned within the market place; it offers our clients a flexibility and choice that we believe is market leading.”

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