The Association of International Life Offices (AILO) recently published the new business figures for the third quarter of 2006. The figures are impressive, showing single premium business of £6.5 billion, up 31.79% on the same time last year.
The Association of British Insurers (ABI) figures, which measure cross-border sales made in the UK, show a single premium figure of £4.2 billion, up 32.9%. From this, we can conclude that the UK remains the most important market and that it’s grown in line with worldwide growth. Interestingly (if you like this sort of thing), the figure at the end of the first quarter for single premium business was up 51.6% on a worldwide basis and 80.3% for sales into the UK. The slowdown in the UK figures shows the impact of the changes to inheritance tax announced in the budget in March, and the res...
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