Friends Provident has reported that its life and pensions business increased 11% to GBP247 million in the first quarter of 2008, compared to GBP223 million in the same period of 2007.
Friends Provident’s UK new business decreased 2% to GBP165 million in the first quarter of 2008, from GBP169 million for the same period of 2007. Lombard new business increased 11% to GBP24 million in the first quarter of 2008, from GBP22 million for the same period of 2007.
Friends Provident International’s new business, in the first quarter of 2008, increased 77% to GBP58 million, from GBP33 million in the same period of 2007.
Adrian Montague, executive chairman of Friends Provident, said: The first quarter new business figures were satisfying, and we were pleased that FPI continues to show a strong and growing contribution to the overall result.