Canada Life premium sales up 45%

PENSIONS and investments firm Canada Life has booked a 45% increase in premium sales in the six months to the end of December 2004.

The company, which is owned by the Great West Life Company of Canada, says its annual premium equivalent sales (APE) increased to €45.1 million in the period. It said sales of regular premiums had risen by 40% and sales of single premiums were up 47%. Canada Life said it had more than 240,000 policyholders in Ireland.

The company was also positive about the outlook for this year, forecasting that the Irish life insurance and pensions market will grow by 12%.