Friends Provident adds market share

UK life insurer Friends Provident has reported a 13.9% increase in life and pensions sales, narrowing the gap in market share with its larger rivals.

The company said that 2003 had been its best year for new business, with £376.7m (€550.2m) in policies sold with new business up 13.2% on the previous year. Market share over the first nine months of the year grew from 3.3% to 4.2%.