British insurance group CGNU expects the overall market for new life and pension products to grow at between 5 and 10 per cent in 2001 despite volatility in world equity markets.
CGNU operates in the Irish market under the Hibernian Group which includes Norwich Union.
Announcing record new business figures for the three months to March 2001 CGNU's group executive Mr Philip Scott said he expected to see a continuation of the strong first quarter sales trend - especially in sales of the new stakeholder pension products.
In Britain total new business sales increased by 22 per cent to £2.2 billion sterling in the quarter and on an annual basis were up 29 per cent to £326 million.
Within these figures individual pension sales were up by 69 per cent to £397 million while group pension sales increased by 9 per cent to £201 million.
AFP