Sales growth suggests a gradual return of consumer confidence

New business figures from the ABI show that, for the first time in two years, the amount invested in regular premium life and pensions policies is on an upward trend.

In the first nine months of 2003 the value of new premiums increased by 3% from £836m in January to £863m in October. This compares to a fall of 8.3% over the same period in 2002.

Mary Francis, Director General of the ABI, says: “So far 2003 has been an encouraging year and our figures suggest that consumer confidence is gradually returning. However the Government&#39s message on the need to boost pension saving is still not being heard as strongly as it might be.”