Standard Life has reported that the worldwide life and pensions sales increased 21% to GBP11.67 billion in the first nine months of 2007.
The company has posted GBP9.69 billion life and pension sales in the same period of 2006. The UK life and pensions sales of the company were up 27% to GBP9.85 billion, in comparison with GBP7.78 billion in the same period of 2006. The group’s pension sales were up 43% to GBP3.58 billion.
Standard Life Investment’s worldwide investment net inflows grew 95% to GBP6.09 billion. The third party funds under management grew 24% to GBP47.7 billion. Individual self invested personal pension sales increased by 43% to GBP3.58 billion, from GBP2.5 billion in the same period of 2006.
Sandy Crombie, chief executive of Standard Life, said: Our performance has been strong this year. Worldwide life and pensions sales are up 21%, with strong growth in our UK and European operations despite more challenging conditions, particularly in the UK, during the third quarter. Standard Life Investments continues to make great progress and our investment net flows have increased substantially in spite of the recent volatility seen in global financial markets.