Life / Pensions Market Rises During 2013

Inflows to Life and Pensions Market Rise During 2013.

Author: Emma Kennedy, The Sunday Business Post.

New annual premium business in the Irish life and pensions market increased by 12% last year, according to new figures.

A study of new business in the market showed that new annual premium (AP) business rose by 12% between January 2013 / 2014, showing that more money is now flowing into pensions and life products.

Figures which were compiled by consultancy firm Milliman show that 12% growth is driven by a 17% increase in life AP during the year and a 10% increase in pensions AP.

A spokesman for the Irish Brokers Association (IBA) said:

“The return to growth in new pension business is to be welcomed and is a real sign that business owners, and others, are sufficiently confident in sustained economic growth to either increase their current contributions or to start a new pension plan for those that haven’t already established one.”

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