Irish sales at Scottish insurer Standard Life jumped 92 per cent in the first quarter as the group benefited from the strong take-up of two new products.

Sales at Standard Life Ireland totalled €191 million in the first three months of the year, compared with €98 million in the same period last year.

Director of sales and marketing Nigel Dunne said the company was particularly pleased with the 92 per cent growth rate. "It underlines the continued turnaround we are seeing in our business and continues the momentum built up over the last number of years," he said.

Mr Dunne attributed the strong growth in sales in particular to Synergy, a new pension product that allows investors to purchase property, shares and investment funds cost-effectively within their pension.

He said demand had also been strong for a new global real-estate investment fund, which gives investors access to an internationally diversified portfolio of commercial property with exposure to high-growth areas such as Singapore and Hong Kong.

Across the whole group, sales increased 40 per cent, to £3.92 billion (€5.7 billion), with British life and pensions sales powering ahead, up 52 per cent, at £3.22 billion.

Group chief executive Sandy Crombie welcomed the results, saying he was delighted that 2007 had started so strongly.