A new report from the ABI claims £235bn was invested in life insurance in 1999, up 12% on 1998. Th...
A new report from the ABI claims £235bn was invested in life insurance in 1999, up 12% on 1998.
The figures are drawn from estimates on the stock of funds in insurance administered individual and occupational pensions. The ABI found that between 1987 and 1999, funds invested in insurance products grew by nearly 220% in real terms to £915bn from £290bn, and that the personal sector wealth held in insurance products increased from 20% to 29%.
Mary Francis, director general of the ABI, said: 'These figures emphasise the vital role insurance plays in underpinning people's financial security.'
