Second trading update for the year ending 30 June 2021
Hansard Global plc (“Hansard” or “the Group”), the specialist long-term savings provider, issues its trading update for the quarter ended 31 March 2021 (“Q3 2021”). All figures refer to this period, except where indicated. Year to date figures refer to 1 July 2020 to 31 March 2021.
- Hansard’s new business was up strongly in Q3 2021 with increased volumes and a number of large single premium policies;
- New business for Q3 2021 was £47.3m in PVNBP (“Present Value of New Business Premiums”) terms, compared to £38.4m in Q3 2020 (up 23.2%) and £42.1m in Q2 2021 (up 12.4%);
- For the nine months to 31 March 2021, new business was £123.6m, an increase of 4.3% on the comparative prior year period;
- Assets under administration increased to £1.181bn at 31 March 2021, up from £1.167bn at 31 December 2020;
- Japanese proposition operationally ready. Launch now expected in summer 2021 when Covid-19 restrictions have eased.
GORDON MARR, CEO, COMMENTED:
“Our new business performance for our third quarter was very positive. It is encouraging to see an improving environment for the distribution of our products as restrictions are gradually relaxed and investment confidence returns.
We continue to invest for the future through the on-going development of our Japanese proposition and the upgrade of our systems environment. Our proposition is now operationally ready and we are working with our distribution partner to schedule a launch date when Covid restrictions in Japan are more favourable. It remains on track to deliver significant growth in our coming financial year.”
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