Sesame Bankhall reported to have made profit in Q1

Friends Provident revealed in its Q1 2010 results last week that Sesame Bankhall traded profitably during the period.

It says the integration of the Sesame and Bankhall operations is now largely complete, with new opera-ting structures in place. But it has not revealed the profit made by Sesame Bankhall.

Sesame acquired Skandia-owned Bankhall and Premier Mortgage Service in October 2009.

In the UK, Friends Provident’s group pension sales were £66m – down 5% on Q1 2009. Annuity sales, up 37% year-on-year, are the principal driver of its 12% overall sales growth.

Total sales across the group were £178m for Q1 – up 19% on the same period in 2009.