Friends Provident plc
Friends Provident: Q1 new business
Friends Provident said that new business for the first quarter of 2006 was up 29% on an APE basis. Strong sales of group pensions in the UK (up 38%) and overseas business (also up 38%) were the main reasons for growth. In common with the rest of the industry, protection sales remained weak.
Examining the sales […]
Friends Provident: 2005 results
Bolstered by its acquisition of Lombard, Friends Provident has reported a 60% increase in pretax profits (on an EEV basis) for the year to December 2005.
Embedded Value is a method of reporting the value of the life insurance business. EEV is modified form of EV that has been in use since January 2005.
Record sales of […]
Friends Provident: FY05 new business
Life Assurer Friends Provident reported a 57% increase in new business (on an APE basis) for the year to December 2005. A 34% increase in pensions and a 236% increase in international sales (following the acquisition of Lombard) were the main drivers of growth.
The company’s main reporting statement focuses on the Present Value of New […]
Friends Provident: Q3 new business
Friends Provident announced a 31% increase in new business volumes for the first nine months to September 2005, a good performance but at the lower end of the expectations. Total life and pensions new business (on an APE basis) rose to £425m (2004: £323m).
Growth was driven by a strong overseas performance, the acquisition of […]
Friends Provident: H1 results
Boosted by asset management profits Friends Provident reported a 24% increase (to £125m) in underlying pre-tax profits for the half year to June 2005, under IFRS rules.
Asset Management operating profits increased by £38m (to £52m from £14m last year) following the acquisition of F&C and Lombard. The asset management business saw strong growth […]
Friends Provident : H1 new business figures
Boosted by acquisitions, Friends Provident announced strong new business figures but weaker margins in its trading update for the six months to June 2005.
Life and pensions new business (on an APE basis) increased by 33% to £282m. Driven by the acquisition of Lombard, a German insurer, growth was strongest in the international business where new […]
Friends Provident : Q1 new business figures
Friends Provident, the life assurer, announced a 41% increase in new life and pensions APE, in line with its competitor Legal and General (which reported a 43% growth in APE for the same period).
Friends Provident : Full year results
Insurer Friends Provident said achieved operating profits (before amortisation of goodwill,exceptional items and tax)for the year to December 2004 rose 29% to £344m despite weak fourth quarter
Friends Provident
Insurer Friends Provident reported weak fourth quarter new business figures with life annual premium equivalent (APE) growing by 1.9% to £54.5m and pensions APE declining by 11.9% to £55.7m.
Overall life and pensions APE for the quarter were down 5.6% from last year. Friends Provident blames poorer market conditions for the weaker fourth […]
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