International insurance firm Hansard Global announced that its assets under administration was £1.12bn ($1.41bn, €1.27bn) as of 31 March 2023.
During its third quarter results ending 31 March 2023, the firm said AuA had increased 15.6m from the last reported figure as at 31 December 2022.
New business for Q3 2023 came in at £25.4m, ahead of new business of £18.6m in the quarter ended 31 December 2022. However, this was down from £31.4m a year earlier.
Graham Sheward, group chief executive at Hansard, said: “While the overall environment has remained challenging for investment and long-term savings plans, it was pleasing to see a 36.5% improvement from our Q2 new business level.
“In our largest region, Middle East and Africa, new business was up 20.8% for the quarter ended 31 March 2023 compared to 31 March 2022. Recently recruited sales managers in this region have generated improved results via both new and existing distribution partners. The business continues to target new opportunities via asset managers’ high net worth clients.
“New business in Latin America was down 9.5% for the quarter. Similar to the Middle East and Africa region, we are working on building business with new distribution partners to supplement our existing distribution.
“The rest of world and far east business remain below previous financial years as a result of a decline in single premium business and business acceptance restrictions arising out of the Russia-Ukraine conflict.
“We continue to make encouraging progress with distribution opportunities for our Japanese proposition to be launched on our new policy administration system.”
