Canada Life International reports a 32% increase in new business sales for 2011

Canada Life International Limited (CLI) has seen very strong growth figures for Q3 2011, with new single premium sales of £528m for the quarter.

Total new business sales for the first nine months of the year have been extremely positive – up 32% on the same period in 2010, and totalling £1.03bn for the year to date.

Sean Christian, Managing Director of CLI, commented,

“This year Canada Life International has worked very hard to build on the success of the last couple of years and the results of this have been reflected in these strong quarterly figures. To increase sales by 32% on the same period in 2010 is an outstanding achievement, and is due in no small part to our compelling client offering.

“Service remains at the heart of what we do, and our dedicated teams work closely with advisers to deliver an effective service proposition. In Q3, in a further demonstration of our commitment to the market, we launched our value added service ican which provides technical expertise to advisers enabling them to fully support their clients. CLI is committed to providing quality technical support for advisers now and post Retail Distribution Review (RDR) at a time when many of our competitors are cutting back in this area of their service proposition.

“In addition, we continue to invest time developing our third party links to allow advisers to deliver efficiencies within their own business. As a result CLI is now linked to 15 platforms, eight back-office systems, and over 150 discretionary fund managers. We recognise that in the run up to the RDR 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. 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 will continue to support choice and won’t force advisers (or their clients) to make unnecessary compromises.

“In the tax and estate planning arena our market leading wealth management proposition has recently been acknowledged with an industry award*, but we will continue to push forward into Q4 with new innovations in order to build on this success.

“2011 is set to be one of our most successful years in the 24 year history of the company and I’d like to personally acknowledge the hard work and dedication of the strong and highly experienced team at CLI in making the company the provider of choice within theUKoffshore market.”

*Winner of the award for best product range for the second year running at the International Adviser Awards

-ENDS-

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