Assets under management at long-term savings provider Hansard Global hit £1.18bn ($1.64bn, €1.37bn) on 31 March 2021, up 1.2% from £1.17bn as of 31 December 2020.
In its third quarter results – January to March 2021 – the company reported that “new business was up strongly, with increased volumes and a number of large single premium policies”.
New business for the three months to March was £47.3m in present value of new business premiums (PVNBP) terms, compared with £38.4m during the same period last year – an increase of 23.2%.
For the three months ending 31 December 2020, PVNBP was £42.1m, reflecting a quarter-on-quarter rise of 12.4%.
The long-awaited opening of Hansard’s Japan office has been pushed back. As reported by International Adviser in September, the company had planned to officially launch in the first quarter of this year.
Following the easing of covid restrictions, Hansard now expects to go live in summer 2021.
Chief executive Gordon Marr commented: “Our new business performance for our third quarter was very positive. It is encouraging to see an improving environment for the distribution of our products as restrictions are gradually relaxed and investment confidence returns.
“We continue to invest for the future through the on-going development of our Japanese proposition and the upgrade of our systems environments.
“Our proposition is now operationally ready and we are working with our distribution partner to schedule a launch date when covid restrictions in Japan are more favourable.”
He added: “It remains on track to deliver significant growth in our coming financial year.”