Standard Life sees 30pc slump in new business sales to [euro]43.2m for 2004.

(From Irish Independent)

SALES figures for 2004 from Standard Life point to a fairly rotten year for the mutual life and pensions group in Ireland last year.

New business figures point to a 30pc slump to [euro]43.2m in the annual premium equivalent value (APE) of sales last year.

As the life and pensions market as a whole grew by 8.5pc to [euro]1.15bn, this means that Standard Life's share of new business written fell by almost two points to under 4pc in 2004, its lowest position in years.

Obviously, slippage of this magnitude is not sustainable over the long term, as it has relegated the company to eighth position in a market more than …