Trading update for the period ended 31 March 2017
Hansard Global plc ("Hansard" or "the Group"), the specialist long-term savings provider, issues its new business results for the quarter ended 31 March 2017. All figures refer to this period ("Q3 2017"), except where indicated.
Summary
· We have maintained our trend of increasing levels of new business during the quarter, with the Far East and Latin America now following the success achieved in the Middle East and Rest of World regions;
· New business for Hansard International Limited ("Hansard International") for Q3 2017 was £38.9m in PVNBP ("Present Value of New Business Premiums") terms, approximately 28% higher than Q3 2016;
· As previously announced, our strategic alliance with Union Insurance Company PSC in the UAE was launched during Q3 2017;
· Assets under administration have increased since the last quarter by £41m or 4% to £1.04 billion;
· The Group traded profitably during the period and remains strongly capitalised.
Gordon Marr, Group Chief Executive Officer, commented:
"It is pleasing to see such strong rates of new business growth and for it to extend across all the regions in which we operate. We are delighted with the positive reception from our distribution partners in the UAE around our alliance with Union Insurance and look forward to achieving growth in that area in the coming year."