Zurich Financial Services Group doubled its new single premium income pushing its overall new life and pensions up by 18 per cent to £435m in 1998 from £369m.
The financial services group, formed in August 1998 from the merger of British American Financial Services and Zurich Group, saw its new single premium business soar by 49 per cent to £1,937m from £1,300m.
Its annual premium sales grew by one per cent to £241m, compared with £239m in 1997.
The growth was bolstered by a sharp increase in sales through Zurich's IFA channels. A 42 per cent rise pushed sales through this channel to £155m in 1998.