THE outlook for growth remains positive for specialist long-term savings provider Hansard Global.
That’s the message from chief executive officer Gordon Marr, based at the company’s offices in Lord Street, Douglas.
He said: ‘We have recorded a strong new business performance in the second quarter of this financial year, showing positive momentum for the group. The initiatives and investments we have made in distribution, infrastructure and new products continue to bear fruit.
‘We remain confident that the outlook for growth remains positive for the group.’
Second quarter sales generated £44.3m on the basis of present value of new business premiums (PVNBP), 13.3 per cent ahead of the first quarter.
Hansard said an overall new business margin of 12.1 per cent reflected an increase in volume and proportion of regular premium business, in line with the group’s stated strategy.
Regular premium new business in the first half was at £66.8m PVNBP, driven by growth in the markets of the Far East and Latin America.
Hansard Global is a full member of the London Stock Exchange and employs around 170 people.
The figures are contained in Hansard Global’s new business results for the six months ended December 31, 2012, ‘which demonstrate continuing success in the Group’s strategy to source regular premium new business from international growth markets and to drive significantly higher new business margins.’
In an overview Hansard Global added: ‘We believe that our strategic decision to focus on non-EU markets, and the Far East and Latin America in particular, has been vindicated given the continuing instability in the eurozone’.
The Group is also continuing to develop Hansard Online to implement new business initiatives.