Source - SMW
Hansard Global continued to grow new business levels in the six months to the end of December despite the exit of a distribution partner in the Middle East and Africa region.

And it said assets under administration rose to £1.1bn at 31 Dec, an increase of £37m (3.5%) in the quarter and £87m (8.7%) since the end of December 2016.

New business for Hansard International for H1 2018 was £77m in present value of new business premium terms, approximately 3% higher than H1 2017.

New business for Q2 of its financial year was £38.5m, consistent with that written in Q1 FY 2018 and slightly lower than Q2 FY 2017.

The group said single premiums continued to deliver strong growth as a result of on-going improvements to its single premium proposition and new relationships established in Latin America and the Rest of the World had maintained their trend of very pleasing growth.

The Middle East and Africa region was lower compared to the prior period primarily as a result of the exit from the market of one of its distributors (as  noted in the Q1 FY 2018 new business results).

Group chief executive Gordon Marr said: 'Hansard has continued to grow new business levels in the first half of the financial year notwithstanding the exit of a distribution partner in our Middle East and Africa region.  

'The well diversified nature of our business allows us to expand through other channels and we remain confident that Hansard will continue to grow as we deliver upon our strategy.'  

At 9:05am: (LON:HSD) Hansard Global PLC share price was -1p at 92p

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