Business
New business results for year ended 30 June 2014
New business results for year ended 30 June 2014.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \nRNS Number : 1622N Hansard Global plc 24 July 2014 \n \n\n \n \n \n \n \nHansard Global plc\nNew business results for the year ended 30 June 2014\nHansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider, issues its new business results for the year ended 30 June 2014 (\"FY 2014\"). \nSummary\n· We successfully launched our new sales and distribution strategy, and a range of new products and a refreshed branding, in the last week of March 2014. Launch events around the world during April and May generated considerable interest among Independent Financial Advisors and policyholdersand will provide a platform for sustainable diversified new business flows;\n· New business of Hansard International Limited of £83.0m PVNBP in the year ended 30 June 2014 is approximately half of its prior year new business volumes, as anticipated, due in part to suspension of activities by a large distributor in Japan;\n· New business margins on the PVNBP basis for FY 2014 are approximately 4.0% (Q3 2014: 5.5%) primarily as a result of reduced sales volume; \n· We will shortly submit to HMRC our assessment of potential liability in relation to the issue of Chargeable Events Certificates previously announced. Our estimate of the Group's exposure, including professional costs, remains unchanged at £5m;\n· Writs totalling approximately £5.9m remain outstanding against the Group (FY 2013: £3.9m).\n \nGordon Marr, Group Chief Executive Officer, commented:\n\"We are confident that, through the implementation of our Strategic Plan and the introduction of new products, the Group will be better placed to deliver increased levels of new business, and diversify our exposure across a range of distributors and countries with an attractively competitive offering. The Group is appropriately capitalised to take advantage of the opportunities that we have identified.\n \nWhile initial indications are encouraging, we anticipate new business sales for Q1 2015 will be largely in line with those of Q4 2014.\"\n \n \nFor further information: \nHansard Global plc &nbs...