Business
New business results for year ended 30 June 2020
New business results for year ended 30 June 2020.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \n \n RNS Number : 8158T\n Hansard Global plc\n 23 July 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 23 July 2020\n \n \n \n \n \n \n \n \n Hansard Global plc\n \n \n New business results for the year ended 30 June 2020\n \n \n Hansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider\n , issues its new business results for the financial year ended 30 June 2020 (\"FY 2020\"). \n \n \n Summary\n \n \n · \n New business for the year ended 30 June 2020 was £159.8m in PVNBP (\"Present Value of New Business Premiums\") terms, up 2.5% from FY 2019 of £155.9m.\n \n \n · \n New business for Q4 2020 was £41.3m, 13.2% lower than Q4 2019 of £47.6m.\n \n \n · \n The Covid-19 environment presented challenges for our distribution network to meet clients and conclude sales activity during Q4 2020. While this impacted our Q4 2020 new business, our technology-based processes and business continuity preparedness helped greatly to mitigate against these challenges.\n \n \n · \n Our Latin American region was the highlight for new business growth over the course of FY 2020, finishing up 44.0% compared to FY 2019.\n \n \n · \n Assets under administration recovered in Q4 2020 after the global stock market sell-off in March and totalled £1.09bn at 30 June 2020, up from £1.08bn at 30 June 2019.\n \n \n · \n The Group remains well capitalised with highly liquid shareholder funds.\n \n \n Gordon Marr, Group Chief Executive Officer, commented:\n \n \n \"In one of the most challenging periods in living memory, Hansard has delivered a resilient new business result for the year, finishing 2.5% up on 2019. Our staff and distribution partners have dealt admirably with the challenges presented and have shown that with flexibility, innovation and technology, many hurdles can be overcome.\n \n \n \n \n \n While the outlook for new business depends largely on the severity of on-going Covid-19 restrictions, our core strategic projects of Japan and our systems upgrade continue to make progress. Importantly, we still plan to launch our new proposition in Japan before the end of this calendar year.\"\n \n \n \n \n \n \n \n \n \n \n \n For ...