Brightbridge Wealth Management Headlines: Zurich Life Ireland sales fall 11%

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Zurich’s APE fell 11% from the same period last year 

Excluding investment only business, the firm’s annual premium equivalent (APE) came to €83.3m.
This compares to last year’s €94.6m.
Zurich added that it was against a 3% rise in the overall market.
Life assurance APE was marginally down at €19.8m, compared to €19.9m in 2010.
This includes new business from protection, regular premium savings and single premium investments.
Pensions new business APE also fell 14% to €64m, compared to €74.6m in 2010.
However, it did post an increase of 106% in single premium life business, unitised with profits bond new business rising to €23.9m.
Commenting on the results, Anthony Brennan, CEO Ireland of Zurich Life Assurance, said the firm had “maintained our core pricing discipline and focused on writing profitable business to ensure our long term financial strength.”