Hansard Global : New business results for the six months ended 31 December 2017

New business results for the six months ended 31 December 2017

25 Jan 2018

Hansard Global plc ('Hansard' or 'the Group'), the specialist long-term savings provider, issues its new business results for the six months ended 31 December 2017. All figures refer to the six months ended 31 December 2017 ('H1 2018'), except where indicated.

Summary

• New business for Hansard International Limited ('Hansard International') for H1 2018 was £77m in PVNBP ('Present Value of New Business Premiums') terms, approximately 3% higher than H1 2017;
• New business for Q2 of financial year ('FY') 2018 was £38.5m, consistent with that written in Q1 FY 2018 and slightly lower than Q2 FY 2017;
• Single premiums have continued to deliver strong growth as a result of on-going improvements to our single premium proposition;
• New relationships established in Latin America and the Rest of the World have maintained their trend of very pleasing growth;
• The Middle East and Africa region was lower compared to the prior period primarily as a result of the exit from the market of one of our distributors (as we noted in our Q1 FY 2018 new business results);
• Assets under administration were £1.1 billion at 31 December 2017, an increase of £37m (3.5%) in the quarter and £87m (8.7%) since 31 December 2016.

Gordon Marr, Group Chief Executive Officer, commented:

'Hansard has continued to grow new business levels in the first half of the financial year notwithstanding the exit of a distribution partner in our Middle East and Africa region. The well diversified nature of our business allows us to expand through other channels and we remain confident that Hansard will continue to grow as we deliver upon our strategy.'

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