Standard Life Ireland expects to have increased its share of the pensions and investments market, following record sales in the year to November 15th.
New business income increased by 61 per cent to £56.8 million (€8.7 million). Standard Life is the first life company to declare its 2001 sales figures and the results underline a rise in savings this year.
Sales of single premium investment bonds increased from £70 million to £144 million.
This was boosted by the success of the company's with-profits bond, attracting more than £120 million since its introduction last March.
Standard Life distributes its products through the broker network only.
Standard Life general manager Mr Rory O'Riordan said he estimated the company's share of the broker market would increase from 7.2 per cent last year to at least 8.5 per cent in 2001.
The company reported sales of £6.6 million in Government savings scheme products (SSIA), representing about 2,770 contracts. Standard Life pitched its with-profits savings scheme account at the more lucrative end of the market by building in a £200 minimum monthly investment.
Corporate and personal pension business performed well for Standard Life this year, increasing by 31 per cent to £28 million.
Standard Life is Europe's largest mutual life assurance company, with assets under management of more than £100 billion. The company employs 200 people in Dublin, Galway, Limerick, Sligo, Waterford and Cork.
