Legal & General reports 32 percent increase in 9-month sales |
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Published
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Wed, 18 Oct 2006 10:35
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LONDON – British insurer Legal & General has announced an expected 32 percent increase in nine-month sales adding that favorable UK economic climate and a surprisingly resurgent savings market could see it go forward from strength to strength.
Britain's third-largest listed life insurer said that new business across the world has increased from 979 million pounds last year to 1.294 billion pounds in the current year.
Analysts predicted that sales could rise to a range between 1.245 billion and 1.421 billion pounds. The nine-month sales in its core UK market has been reported at 1.213 billion, up by 36 percent.
It added that new funds at its fund management has increased b y over 44 percent to 14.7 billion pounds with the total funds under management pegged at 219 billion pounds at the end of September. Legal & General said it was in a good position to benefit from the prevailing conditions in the UK economy.
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