1st Nov 2006 07:00
St. James's Place PLC01 November 2006 PRESS RELEASE 1 November 2006 NEW BUSINESS FIGURES TO 30 SEPTEMBER 2006 St. James's Place plc ("SJP"), the wealth management group, today announces itsnew business figures to 30 September 2006. The text of the announcement is attached: Enquiries: Mark Lund, Chief Executive Tel: 020 7514 1938Brunswick Tel: 020 7404 5959 ST. JAMES'S PLACE GROUP NEW BUSINESS FIGURES TO 30 SEPTEMBER 2006 NEW BUSINESS FOR THE NINE MONTHS UP 58% AND FOR THE QUARTER UP 63% Nine months to Change 30 September 2006 • Long Term Savings New Business* Investment £135.3 million +55% Pensions £94.0 million +85% Protection £16.7 million -6% Total £246.0 million +58% * see note 1 • Wealth Management Services Gross fees generated £24.8 million +29% • Funds under Management at £14.3 billion, up 16% since the start of the year and up 25% over the previous twelve months Mark Lund, Chief Executive, commented: "We are delighted with the continued growth in our new business figures, whichare up 58% year to date and 63% in the third quarter. "The 117% increase in our pensions business during the third quarter isparticularly pleasing. "We continue to see a growing demand for high quality pensions and investmentadvice. Our successful wealth management proposition combined with our distinctiveapproach to investment means that, through the St. James's Place Partnership, weare very well placed to help clients take advantage of market opportunities." ST. JAMES'S PLACE GROUP NEW BUSINESS FIGURES TO 30 SEPTEMBER 2006 LONG-TERM SAVINGS Unaudited Unaudited 3 Months to 9 Months to 30 September 2006 30 September 2006NEW PREMIUMS 2006 2005 Change 2006 2005 Change £'m £'m % £'m £'m %New RegularPremiums Pensions 16.6 7.2 131% 47.8 26.4 81% Protection 5.2 6.1 (15%) 16.7 17.7 (6%) 21.8 13.3 64% 64.5 44.1 46%New SinglePremiums Investment 338.9 215.5 57% 927.7 592.5 57% Pensions 187.8 91.1 106% 461.8 243.5 90% 526.7 306.6 72% 1,389.5 836.0 66%Unit Trust Sales(including PEPs andISAs) 105.8 81.9 29% 425.3 282.3 51% Unaudited Unaudited 3 Months to 9 Months to 30 September 2006 30 September 2006 NEW BUSINESS(RP + 1/10th SP) 2006 2005 Change 2006 2005 Change £'m £'m % £'m £'m % Investment 44.5 29.8 49% 135.3 87.5 55%Pensions 35.4 16.3 117% 94.0 50.8 85%Protection 5.2 6.1 (15%) 16.7 17.7 (6%) ----- ----- ----- ----- ----- -----Total 85.1 52.2 63% 246.0 156.0 58% ----- ----- ----- ----- ----- ----- ST. JAMES'S PLACE GROUP NEW BUSINESS FIGURES TO 30 SEPTEMBER 2006 Notes 1. New business from long-term savings is calculated in accordance with the life assurance industry convention by adding together new regular premiums and one-tenth of single premiums and unit trust sales. 2. Sales of manufactured business on an APE basis for the nine months were 86% of the total reported (2005: 82%). Sales of non-manufactured pensions including stakeholder by St. James's Place Partnership have been included in the reported figures under Pensions. These amount to £12.8 million new regular premiums (2005: £12.5 million) and £40.4 million single premiums (2005: £17.3 million) for the nine months to 30 September 2006. This equates to £16.8 million new business premiums (2005: £14.2 million). Sales of annuities by St. James's Place Partnership have been included in the reported figures under Pensions. These amount to £31.8 million single premiums (2005: £23.7 million) for the nine months to 30 September 2006 and equate to £3.2 million new business premiums (2005: £2.4 million). Sales of protection business by St. James's Place Partnership through a panel of providers have been included in the reported figures under New Regular Premiums Protection. These amount to £10.5 million of new regular premiums (2005: £11.0 million) for the nine months to 30 September 2006. This equates to £10.5 million new business premiums (2005: £11.0 million). Sales of non-manufactured single premium investment business amounting to £31.6 million have been included in the reported figures under investments for the nine months to 30 September 2006 (2005: £ nil). This equates to £3.2 million new business premiums. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
St James's Place