Winterthur Life New Business Results (first nine months 2006)

7 November 2006

Winterthur Life today reported a sharp increase in year-to-date (YTD) single premium individual pensions business up 121% to £1.0 billion (2005: £463 million) reflecting the continued strong progress of its predominantly single premium proposition.

The company also reports a 46% increase in YTD 2006 new insured pensions business SPE to £1.8 billion (2005: £1.24 billion) while assets under management grew to £10.0 billion, up from £9.0 billion, as at September 30 2005.

Mike Kellard, chief executive officer (pictured), says the company is continuing to benefit from its new A-Day product offering, which contained a distinctive range of products to meet retirement planning needs.

"Winterthur Life's single premium pensions business has surged as a result of the company's A-Day product suite and the attractiveness of its proposition to top advisers and their high net worth (HNW) clients. This offering has helped the company attract record business from advisers over the last nine months and in particular the six months since the new A-Day pension rule changes in April.

Winterthur has also launched a range of new adviser services as part of its Professional Edge proposition, from new online adviser services, a new range of trusts on its investment bond range and adviser training and education programmes. These have helped the company cement its reputation amongst top advisers and their high net worth clients."

The successful results build still further on the company's overall achievements for the full year 2005, which saw UK gross written premiums topping £1.54 billion with a further £191 million in non-insured single premium SIPP sales.

Winterthur Life focuses on top advisers and their HNW clients with a sharply defined market proposition and quality product and service offering. With this strong focus, the company remains very confident in its ability to continue to deliver strong growth.

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