Lloyds Abbey Life sales battered
Friday 13 January 1995
The group is due to report full-year figures on 8 February. Yesterday Lloyds Abbey admitted that single-premium sales were particularly badly hit by the company's withdrawal from the pensions transfer market.
Black Horse Financial Services, which sells products through Lloyds Bank branches, suffered a 59 per cent fall in sales of single-premium pensions in 1994 to £34.2m. Abbey Life Assurance, the stand-alone insurer which operates through 3,000 salesmen, also suffered a 39 per cent fall in single-premium pensions sales to £89.6m.
Overall, the group sold 13 per cent fewer regular-premium policies, 24 per cent fewer single-premium life products, and 38 per cent fewer unit trusts than in the previous year.
The company said market conditions and "the widespread attention given to the industry's selling standards" had adversely affected demand.
In Black Horse Financial Services, although overall sales fell, performance improved in the second half. The company said this partly reflected the sales force training programme.
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Exclusive: Impact of immigrants on British workers ‘negligible’
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
The quiet diplomat: Catherine Ashton - recognised and admired in all the world’s troubled countries, yet ridiculed at home
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 1 Bad cattitude: Family call police after crazed and 'hostile cat with a history of violence' attacks baby before attempting to 'flee custody'
- 2 Family forced to flee home after discovering 'terrifying' nest of spiders in bananas
- 3 First Kiss: Filmmaker gets 20 strangers to make out on YouTube with awkward results
- 4 Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 5 Bob Crow death: 'Admired by his members, feared by employers' - Tributes pour in for RMT union leader and 'working class hero' Bob Crow
iJobs Money & Business
£1000 per month: Inspiring Interns: The company works with Tier 1 FTSE 100 Ban...
£35000 - £60000 per annum + Bonus + Benefits: Pro-Recruitment Group: You must ...
£60000 - £80000 per annum + BONUS + BENEFITS: Harrington Starr: A top, City ba...
VOLUNTARY ONLY - EXPENSES REIMBURSED : Reach Volunteering: Fantastic opportuni...