Ark Life sees 2003 premium sales rise

INSURER Ark Life has reported a small rise in premium sales for 2003 after stripping out the effects of Government-backed special savings accounts from the previous year’s results.

Ark Life, which is owned by AIB, said annual premium equivalent (APE) sales in 2003 were €102.2 million, up a touch on the €99.9m sold in 2002. However, when SSIAs are added to the 2002 figures, APE sales fell from €162.1 million to €103.7m.

New regular premium sales were down from €114m to €56m, but this included a rise in pension sales from €28.3m to €29.7m.