Standard Life sees business sales fall

INSURER Standard Life saw a fall in new business sales in the past 12 months due to stock market volatility.

Standard Life said its sales had been hit in Ireland and abroad by the fall in equity markets, but said the sale of Personal Retirement Savings Accounts (PRSAs) had been encouraging.

The mutual insurer said single premium sales were down 29% in the year to November 15 to €259 million with annual premium sales down 12% to €34m.