Friends Provident International (FPI) has reported strong Q1 results despite "the toughest economic back drop" in "fragile" Europe.
International sales for the three months to 31 March were £57m, up 49% on Q1 09, excluding Luxembourg-based estate-planners Lombard. Friends Provident director of international operations Rocco Sepe says international markets are starting to revive, especially in Asia. But recent economic turmoil in the Eurozone is "really affecting confidence", and he says he is "not taking anything for granted". "Germany is the toughest economic backdrop. Its banking sector is still embattled, and this is affecting confidence in Europe," Sepe says. Germany is leading the cash drive for a €110b...
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