Legal & General says sales up 5 percent
Legal & General posted a 5 percent rise in nine-month sales on Thursday, at the top end of forecasts, as higher bulk annuity sales offset drops elsewhere.
Daily Mail says year starts wellThe third-largest insurer said worldwide new business increased to 1.14 billion pounds from 1.09 billion pounds in the same period last year.
A consensus of analysts' forecasts gathered by the company had seen total sales at 1.13 billion pounds with estimates ranging from to 1.03 billion to 1.16 billion pounds.
The figures are compiled on an annual premium equivalent basis, used to smooth out big sales of single-premium policies, like annuities, which can distort the picture.
Pension buyout sales more than trebled, up 226 percent, said L&G.
(Reporting by Lorraine Turner; Editing by David Cowell)
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