Ireland
Hibernian Life and Pensions consolidated its position as the third largest Irish life and pension provider with a 32% increase in sales to £185 million (2004: £137 million). This performance included high levels of single premium business in the quarter, which increased by 122% to £97 million (2004: £43 million).
Pension sales were 38% higher at £132 million (2004: £97 million). Hibernian offers an attractive choice of fund managers and single premium sales were boosted by winning a significant number of large contracts across all categories of pensions business. New regular premium pension sales were flat as customers and brokers continued to focus on single premium products.
Life sales increased 35% to £53 million (2004: £40 million) and benefited from the guaranteed fund, launched in late 2004, which includes a five-year capital guarantee.
New business contribution was £6 million (2004: £7 million) with a margin of 3.2% (full year 2004: 3.4%).
