Hansard Global saw its new business levels fall for Q3 2022 (£30.9m) in Present Value of New Business Premiums terms compared to Q3 2021: £47.3m, Q2 2022: £33.5m, according to its latest trading update today (5 May) for the quarter ended 31 March 2022 (Q3 2022).
For the nine months to 31 March 2022, new business was £95.8m (Q3 YTD 2021: £123.6m);
Assets under administration were £1.17bn at 31 March 2022 (£1.23bn at 31 December 2021);
The Group said it continued to work with its prospective Japanese distribution partner towards a suitable launch date, against the current challenging background of Covid-19 in Japan.
Graham Sheward, group chief executive, said: "As our targeted region of Japan remains under Covid-19 restrictions with increased case counts, we continue to work with our local distribution partner towards a suitable launch date.
"We also continue to take vigorous action to improve new business levels both with respect to our traditional business and by progressing opportunities to deploy new products more widely in Japan and other suitable territories around the world.
"In addition to the new initiatives mentioned in our previous quarterly trading update, we have recently recruited two experienced executives into our sales and business development team in order to assist the delivery of this growth."
Year to date (YTD) figures refer to 1 July 2021 to 31 March 2022.