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Canada Life Int’l reports 175% new business growth

Canada Life International has reported a 175% increase in new business in the first half of 2010

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The Isle of Man-based life company said the new business growth followed quarter on quarter double digit sales increases seen since the start of 2009.

CLI also highlighted that the 175% rise was “significantly above” the market average figure of 93% growth for the first half of the year.

The company also noted that its total share of the UK single premium offshore bond market had increased this year to reach 21%, based on its own and ABI figures, while its assets under administration had exceeded £6bn.
   
Sean Christian, managing director of CLI, said: “Our current growth far exceeds the level of market growth. To increase sales by 175% is a clear sign that we are building on the success of 2009 and continuing to move forward in a positive direction."

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