International – Australia
Life and pension sales were flat at £74 million (2004: £75 million) including growth from corporate pension and protection products launched in late 2004. Sales of investment products in the region have improved as a result of the more positive investor sentiment towards equity markets, with unit trusts sales 41% higher at £47 million (2004: £33 million). While not included in the new business figures, sales of Navigator, our master trust fund administration business, increased to £166 million (2004: £148 million), as a result of ongoing improvements in product offerings.
