Bank of Ireland life announces hike in new business

Bank of Ireland Life today announced an increase of 27% in its new business sales for 2005.

When industry figures are published in March, Bank of Ireland Life expects its market share for ‘05 to grow to 25%.

Highlights of the company’s growth include:

* Total Annual Premium Equivalent (APE) growth of 27% to €349.3m

* Single premium investment sales up 63% to €894m

* Pensions single premiums up by 43% to €401m

* Increases in SSIA contributions, up 22% to €11.4m