Zurich sees hike in new business

THE Irish arm of pensions and insurance specialist Zurich Life has reported a 12% year-on-year increase in the value of new business, to €106.5 million, for the first half of this year.

The company — which formerly traded here as Eagle Star — said that within that increase, the value of new pension sales increased by 10% to €86.6m (up from a value of €78.9m for the first six months of 2009).

That pension performance was marginally ahead of the Irish pensions market in the first half of the year, which grew by 9%. It also means that Zurich Ireland’s share of the pensions market here has risen by 3% to 18% — since the end of last year.