Standard Life sales pass €1bn landmark

Standard Life Ireland’s sales grew by a third last year, passing the landmark of more than a €1bn in 12 months for the first time in the company’s history.

Sales grew as low interest rates resulting in meagre returns pushed investors to find a better return.

The head of Standard Life Ireland, Nigel Dunne, said: “The sharp falls in retail deposit interest rates in 2013 led to a surge in lump sum investment bond sales as customers moved money off deposits seeking higher yielding, long-term investments. We expect this trend to continue in 2014 with roughly €100bn on deposit.”