Canada Life Int’l sales up by one-third
From Life Nov 11 2011 BY: Will Jackson
, Contributing editor
, International Adviser
New business sales at Canada Life International topped £1bn ($1.6bn) in the first nine months of 2011, representing a 32% increase on the equivalent period last year.
The third quarter proved profitable for the firm, with new single premium sales of £528m during the three-month period.
Sean Christian, the managing director of CLI, said the results were a reflection of the company’s efforts to improve its proposition. As International Adviser reported, this included the launch of ‘ican’ – a revamped technical support offering for intermediaries – in September.
In addition, Christian said the firm continues to develop its third-party links and is now linked to 15 platforms, eight back-office systems, and more than 150 discretionary fund managers.
“We recognise that in the run up to the RDR [retail distribution review] deadline advisers will be reviewing their own business models and assessing where they can add further value to their clients’ investment needs in the most cost efficient way,” he said
“The fact that so many platforms exist suggests one single platform cannot fulfil the needs of every adviser and every client. Therefore choice has got to be the most important factor and CLI … won’t force advisers (or their clients) to make unnecessary compromises.”
Royal London 360°, Friends Life and Skandia International all unveiled third-quarter results earlier this month.