Worldwide long-term savings new business, three months to 31 March 2003
24 April, 2003
- Worldwide long-term new business sales of £3.8 billion (2002: £3.6 billion)
- Worldwide life and pensions sales of £601 million (2002: £598 million) on an APE* basis
- A resilient result in challenging markets demonstrating the benefits of diverse distribution and broad product range
- Worldwide total bancassurance sales up 60% at £919 million (2002: £540 million)
- Continental European life and pensions sales up 23% on an APE* basis and now represent 51% of worldwide life and pensions new business sales
- Worldwide new business contribution at £142 million (2002: £137 million), with new business margin of 23.6% (full year 2002: 24.4%)
* Annual premium equivalent (APE) is the UK industry's standard measure of new regular premiums and 10% of single premiums. All growth rates quoted are at constant rates of exchange
Enquiries:
Analysts/Investors:
Philip Scott, Group Executive Director +44 (0)20 7662 2264
Steve Riley, Investor Relations Director +44 (0)20 7662 8115
Media:
Hayley Stimpson, Director of External Affairs +44 (0)20 7662 7544
Sue Winston, Head of Group Media Relations 44 (0)20 7662 8221
Alex Child-Villiers, Financial Dynamics +44 (0)20 7269 7107
There will be a conference call today for wire services at 7:45am on +44 (0)20 7162 0183. This conference call will be hosted by Philip Scott, Group Executive Director.
There will be a conference call today for analysts and investors at 9:30am (UK time) on +44 (0)20 7162 0179. This conference call will be hosted by Philip Scott, Group Executive Director.
Replay will be available for two weeks until 8 May. The dial in number for replay is +44 (0)20 8288 4459 and the pass code is 459112.
