The ABI’s numbers, based on figures from the main providers of the bonds to the UK market, showed onshore bond sales of £2.48bn in the year to the end of June, compared with £2.07bn during the same period of 2014.
The recovery in onshore bond sales follows a sharp fall immediately after the financial crisis of 2008/09. That drop-off in sales was attributed to financial advisers focusing on other areas such as inheritance tax
For offshore bonds, the latest six-month sales figure was around £1.69bn, down by 3.4% from £1.75bn in the same period of 2014.
These latest numbers for offshore bonds extend a trend that has been apparent since 2010 though some life companies have reported a turnaround this year
"It is pleasing to see a recovery in business levels in Q2, suggesting some normality may be returning to the market."
Axa Wealth said it had seen a significant sales increases for offshore bonds in the second quarter of 2015 compared with Q1 2015.
“This environment was initially not conducive to UK offshore market growth, but it is pleasing to see a recovery in business levels in Q2, suggesting some normality may be returning to the market,” said Simon Willoughby, head of proposition, Axa Wealth International.
For AXA Wealth International, the second quarter of 2015 saw significant sales increase compared to Q1 2015,” he said.
Prudential said its sales of offshore bonds increased by 22% in the first half over the same period in 2014. Sales of onshore bonds increased by 19% in the same period.
