Standard Life reports 79% surge in new business for first quarter

PENSIONS and investment group Standard Life achieved a 79% increase in new business in the first quarter of 2011, boosted by a 50% rise in single premium investments.

The group, which operates two divisions in Ireland, said sales in its domestically driven business rose 62%.

Its Standard Life International business, which sells mainly to British clients, nearly doubled sales in the first three months of the year, as business grew 93%, due to the group putting new distribution channels in place.