Hibernian Life and Pensions achieved a 10 per cent increase in sales to €387 million during 2004, according to a trading statement from parent Aviva.
The company's strong performance was largely due to good single premium pension sales throughout the year and increased sales of savings products in the fourth quarter. It means Hibernian has consolidated its position as Ireland's third largest life and pension provider.
Sales on an APE basis increased by 9 per cent year on year to €124 million. Sales of new single premium pensions grew 11 per cent to €214 million, while regular premium pension sales were up 7 per cent to €69 million.
Life regular premium sales increased to €26 million reflecting an increase in protection business and additional new premiums on existing Special Savings Incentive Account policies.
Life single premium sales also increased to €78 million from €73 million a year ago.
Aviva said that Irish investors continued to be cautious in 2004 and there was reduced demand for unit-linked and with-profit products.