ROYAL & SunAlliance, the partly Sussex-based insurance group, reported strong growth in its new British life and investment business.

The group, which slashed nearly 300 jobs at its centres in Brighton and Horsham in November, saw its new life, pensions and retail investments last year jump from £174 million to £204 million.

The headline figures are weighted to give more attention to regular premium policies rather than lump sum payments.

Actual sales of single premium policies jumped nearly a third, from £671 million to £885 million. Regular premiums rose from £107 million to £116 million.

The company saw sales of single premium bonds jump particularly strongly, while the performance of its with-profits bond was also good.

Sales through independent financial advisers improved 31 per cent.

Stephan Pater, managing director for the group's life and unit trust operations, said Royal & Sun Alliance's higher profile as an investment house was increasingly getting through to IFAs and consumers.

He said: "This is now bearing fruit, with excellent results across the board."

The group said its pension sales had improved despite the intense competition in the market.

New products helped the company increase its pensions market share from 1.7 to 2.2 per cent.

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