Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Legal & General’s Q3 sales increase at forecasted rate

UK insurance and protection provider Legal & General has reported a 22% increase in third quarter sales, meeting market expectations.

For the first three quarters of the year combined, the insurer improved sales by 32% to reap GBP1.29 billion. This too fell within the forecasted range of GBP1.25 billion and GBP1.42 billion, Reuters has reported.

Returning to its latest quarterly figures, Legal & General’s new life insurance and pension sales increased to GBP398 million, from GBP327 million pounds in the year-earlier period, Bloomberg states.

UK sales improved by 25% to GBP375 million. However, overseas sales declined 15% to 23 million. Annuities helped to boost the figures, with sales of individual annuities doubling and bulk sales increasing by 9%.

To build further growth, the company plans to add products and expand its UK distribution network for life and pensions products.