New business results

29 Jan 2007 07:01

Hansard Global plc29 January 2007 HANSARD GLOBAL PLC New business results for the six months ended 31 December 2006 Hansard Global plc ("Hansard" or "the Group"), the specialist long term savingsprovider, today announces its new business results for the six month periodended 31 December 2006. New business premiums on an APE basis(1) in sterling terms(1) were up 8.8% to£17.3 million during the first six months of the year (H1 2005/06: £15.9million). This reflects continued strong new business flows, particularly inScandinavia, Latin America and the Far East. Assets under administration at £1,035 million, have risen by 9.3% since 30 June2006 and by 16.8% compared with 31 December 2005. The main drivers for theseincreases have been new business single premium flows and movements in capitalmarkets. Leonard Polonsky, Chief Executive of Hansard Global, commented: "Following our successful IPO in December, we are pleased to report continuedgrowth in new business and in assets under administration. We shall announce theresults for the period ended 31 December 2006 on 29 March 2007." "We are starting to see the early benefits of the IPO, in terms of providing theGroup with access to a wider group of intermediaries." For further information HansardLeonard Polonsky, Chief Executive 01624 688000Gordon Marr, Director 01624 688000 Bell Pottinger 020 7861 3232Ben Woodford 020 7861 3917Daniel de Belder 020 7861 3881 HANSARD GLOBAL PLC New business results for the six months ended 31 December 2006 Unaudited Six months ended 31 December 2006 2005 Change £m £m %New Business Premiums (APE)(1)Single 8.6 7.6 13.2%Regular 8.7 8.3 4.8% ---------- ----------- ---------- 17.3 15.9 8.8% ---------- ----------- ---------- New Business Premiums (APE)(1)(2)EU and EEA 6.9 7.4 -6.8%Rest of World 10.4 8.5 22.3% ---------- ----------- ---------- 17.3 15.9 8.8% ---------- ----------- ---------- Unaudited Audited Unaudited As at As at As at 31-Dec 30-Jun Change 31-Dec 2006 2006 % 2005 £m £m £m -------- -------- -------- ---------Assets under Administration 1,035 947 9.3% 886 -------- -------- -------- --------- (1) New business from long-term savings is calculated on an APE basis inaccordance with the life assurance industry convention by adding together newregular premiums and one tenth of single premiums. Premiums arising in foreigncurrencies are translated to sterling at the rates of exchange ruling at thetransaction date. (2) The geographical split is based on the country of residence of thepolicyholder. Notes to editors: • Hansard Global plc is the holding company of the Hansard Group of companies. The Company was listed on the London Stock Exchange on 18 December 2006. The Group is a specialist long term savings provider, based in the Isle of Man. • The Group offers a range of flexible and tax-efficient investment products within a life assurance policy wrapper, designed to appeal to affluent, international investors. • The Group utilises a low cost distribution model by selling policies exclusively through a network of financial services intermediaries, independent financial advisers and the retail operations of certain financial institutions (collectively "Intermediaries"), who provide access to their clients in more than 170 countries. The Group's distribution model is supported by an award-winning, multi-language internet platform and is scaleable. • The principal geographic markets in which the Group currently services Intermediaries and policyholders are the Far East, the Middle East, and South America in the case of Hansard International Limited, and Western Europe in the case of Hansard Europe Limited, the Group's two life assurance companies. • The Group's objective is to grow its business by attracting new business through continuing to pursue its existing business model and positioning itself to adapt rapidly to market trends and conditions, leveraging the scalability and flexibility of the Group's operations to enter or develop new geographic markets and exploit growth opportunities within existing markets without the need for significant further investment. Forward-looking statements: This announcement may contain certain forward-looking statements with respect tocertain of Hansard Global plc's plans and its current goals and expectationsrelating to future financial condition, performance and results. By their natureforward-looking statements involve risk and uncertainties because they relate tofuture events and circumstances which are beyond Hansard Global plc's control.As a result, Hansard Global plc's actual future condition, performance andresults may differ materially from the plans, goals and expectations set out inHansard Global plc's forward-looking statements. Hansard Global plc does notundertake to update forward-looking statements contained in this announcement orany other forward-looking statement it may make. No statement in thisannouncement is intended to be a profit forecast or be relied upon as a guidefor future performance. This information is provided by RNS The company news service from the London Stock Exchange