Business
New business results for 6 months ended 31/12/22
New business results for 6 months ended 31/12/22.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 26 January 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Hansard Global plc\n \n \n \n \n New business results for the six months ended 31 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n Hansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider, issues\n its new business results for the six months ended 31 December 2022. The three months ended 31 December 2022 are referred to as \"Q2 2023\" where applicable. \n \n \n \n \n \n \n Summary\n \n \n \n · \n New business for the Group for the three months ended 31 December 2022 was £18.6m in PVNBP (\"Present Value of New Business Premiums\") terms (three months ended 31 December 2021: £33.5m);\n \n \n · \n New business for the six months ended 31 December 2022 was £43.4m (six months ended 31 December 2021: £64.9m);\n \n \n · \n Assets under administration were £1.10 billion at 31 December 2022 (30 June 2022: 1.10 billion);\n \n \n · \n We continue to make good progress towards launching a new proposition in the Middle East to assist growing our business in that market and have also made encouraging progress with distribution opportunities for our Japanese proposition.\n \n \n \n \n \n \n Graham Sheward, Group Chief Executive Officer, commented:\n \n \n \n \n \n \n \"The overall environment has remained challenging for investment and long-term savings plans. However, we continue to make good progress developing new product and distribution opportunities.\n \n \n \n \n \n In our largest region, Middle East and Africa, new business was down 13.7% for the six months ended 31 December 2022. Having recruited additional sales management for this region, we have been working closely with both new and existing distribution partners to expand our proposition, targeting for example pensions and higher net worth clients. In addition, we continue to make good progress towards launching a set of products for the Middle East that will leverage our new administration system and incorporate a new best in breed fund range.\n \n \n \n \n \n New business in Latin America was down 4.9%. Similar to the Middle East and Africa region, we are working on building business with new distribution partners to suppl...