Bank of Ireland's life and pensions division has reported a 27% increase in new business sales for last year.
The company said it expected its market share to grow to 25% when industry figures are published in March.
Sales, according to the standard industry measure called annual premium equivalent (APE), were up 27% to €349.3m. Single premium investment sales jumped by 63% to €894m. BoI Life managing director Brian Forrester said this was because investors were becoming more confident about the prospects for equity markets.
On the pensions side, annual premium sales were up 17% to just under €160m and single premiums were 43% higher at €401m. SSIA contributions rose by 22% to €11.4m.
Mr Forrester said BoI was convinced that a 'significant portion' of SSIA money would be reinvested, and the bank was well positioned to attract a large percentage of these funds.
