Total sales at life insurance group Old Mutual grew by 11% to GBP395 million in Q1, the firm said in a trading statement.

Old Mutual says that it continues to deliver strong growth across a substantially expanded international footprint following the acquisition of Skandia, with particularly strong sales of unit trust/ mutual fund and asset management products, and good net cash inflows from clients.

Positive equity markets in all markets and the increase in sales have both contributed to the 8% growth in funds under management in the quarter to GBP248 billion.