Friends Provident International (FPI) reports new business sales fell 24% for the nine months to October 2009 compared to the same period last year.
Total international life and pensions business dropped to £209.1m for the period, down from £276.6m in 2008. However, FPI and Lombard, which make up the international business arm of Friends Provident, reported positive quarter on quarter sales growth for 2009, at £47.8m and £28.3m for Q3 up from £44.1m and £26.2m in Q2 respectively. Similarly AmLife, in which FPI has a 30% share, reported sales of £2.3m for the third quarter, compared to £2m in Q2. The quarter on quarter growth is being driven by sales in Asia, mainly in Hong Kong, which reported Q3 at £26m, up £4m on the Q2. R...
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