Friends Provident profits climb 25%

British insurance giant Friends Provident unveiled another record for life and pensions sales today as profits in the first six months of 2004 surged 25% to £169m (€255m).

Using the measure of all new regular premiums and 10% of single ones, Friends said life and pensions business rose 7% in the first half to £212m (€320m), with growth stronger in the last three months – up 13.1% to £120.6m (€182.4m).