Poland
Total life sales increased to £39 million (2003: £26 million), reflecting increased demand for single premium investment products. Mutual fund sales were lower at £59 million (2003: £85 million), reflecting investor caution following the strong stock market performance that benefited 2003 and the first quarter of 2004.
Pension sales were higher at £26 million (2003: £19 million), benefiting from sales through the State Agency to members of the workforce without a chosen pensions provider in the first half of the year.
CU Polska remains the market leader in individual life and private pensions with a 15% share of the life market measured by total premium income in 2003 and a 28% share of the private pensions market measured by total assets under management.
