Hibernian reports strong surge in sales

Hibernian Life & Pensions today reported a 21 per cent rise in new business premiums to €845 million for 2001. The UK-owned company posted an 81 per cent rise in pension sales to €281 million.

Single premium sales were up 20 per cent, while regular premium grew by 31 per cent.

Sales of its with profit Celebration Bond grew by 62 per cent to €412 million. The company said this reflected the popularity of this form of investment in the current volatile equity markets.

Sales of the government's special savings accounts, SSIAs, made up nearly €23 million and this is expected to increase strongly as the closing date of April 30th nears.

Hibernian is owned by British insurer CGNU, which posted a better than expected 12 per cent rise in worldwide life and pensions sales to £4 billion.