Pru and Standard Life paint different pictures

Both have reported rising sales on an annual premium equivalent basis, but the gains have not been equally felt. Pru’s group insurance sales are reported as growing 26% in 2004 on 2003, to a total of £1.85bn on an APE basis. Standard Life says its total insurance APE sales were up 11% to £1.419bn - although its period actually runs for 13.5 months to 31 December 2004, reflecting the company’s decision to change its financial year-end from 15 November. In the core UK market, the differentiation is equally visible. Pru reports UK and Europe APE sales up 21%, excluding a one-off an...