Hansard Global plc
29 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 savings
provider, today announces its new business results for the six month period
ended 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: £15.9
million). This reflects continued strong new business flows, particularly in
Scandinavia, Latin America and the Far East.
Assets under administration at £1,035 million, have risen by 9.3% since 30 June
2006 and by 16.8% compared with 31 December 2005. The main drivers for these
increases have been new business single premium flows and movements in capital
markets.
Leonard Polonsky, Chief Executive of Hansard Global, commented:
'Following our successful IPO in December, we are pleased to report continued
growth in new business and in assets under administration. We shall announce the
results 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 the
Group with access to a wider group of intermediaries.'
For further information
Hansard
Leonard Polonsky, Chief Executive 01624 688000
Gordon Marr, Director 01624 688000
Bell Pottinger 020 7861 3232
Ben Woodford 020 7861 3917
Daniel 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 in
accordance with the life assurance industry convention by adding together new
regular premiums and one tenth of single premiums. Premiums arising in foreign
currencies are translated to sterling at the rates of exchange ruling at the
transaction date.
(2) The geographical split is based on the country of residence of the
policyholder.
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 to
certain of Hansard Global plc's plans and its current goals and expectations
relating to future financial condition, performance and results. By their nature
forward-looking statements involve risk and uncertainties because they relate to
future events and circumstances which are beyond Hansard Global plc's control.
As a result, Hansard Global plc's actual future condition, performance and
results may differ materially from the plans, goals and expectations set out in
Hansard Global plc's forward-looking statements. Hansard Global plc does not
undertake to update forward-looking statements contained in this announcement or
any other forward-looking statement it may make. No statement in this
announcement is intended to be a profit forecast or be relied upon as a guide
for future performance.
This information is provided by RNS
The company news service from the London Stock Exchange
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