Hansard increases business in Middle East, Africa and Latin America
Hansard Global has seen another double digit increase in its international new business, according to its latest new business results for the six months ended 31 December 2016.
The Isle of Man company announced its results via a statement on its website, with its trend of increasing levels of new business particularly in the Middle East and Africa and Latin America regions continuing. New business for Hansard International for Q2 2017 was £41.0m in Present Value of New Business Premiums terms, approximately 11% higher than Q2 2016 and 21% higher than Q1 2017, the company said.
Assets under administration have increased since the last quarter by £19m or 2% to £1bn and Hansard also pointed to its “strategic objective to attain additional licensed access to key target markets”, highlighting the recent strategic alliance, as reported, with Union Insurance Company to enable growth in the United Arab Emirates.
“We are pleased to have maintained our continuing upward trend of well-diversified new business growth, said Gordon Marr, Group CEO at Hansard, pictured left. “We have stated previously that it is our intention to seek out additional licences in attractive markets and we are delighted to have recently announced a partnership with Union Insurance in the UAE which we expect to launch in February 2017.”
New Dubai products
Hansard International has said that it plans to launch two new products in Dubai as part of the alliance with Union. The new savings and investment products, to be called the Infinity Wealth and Infinity Access plans, will give clients the opportunity to invest in an extensive range of funds managed by some of the world’s largest asset management companies.