Life single premium sales at Hibernian Life & Pensions grew by 55% in 2006, following Hibernian's acquisition of AIB's life insurance subsidiary Ark Life at the end of January 2006.
In announcing their first business results since establishing the joint venture, the company said total sales on an annual premium equivalent basis were up 15% to €281.2m.
The company said that Hibernian and Ark Life's combined market share now stands at 16.7%.
Life single premium sales through brokers were up 21% to €248.0m, while single premium pension sales rose 14% to €440.38m.
However, annual premium life sales were down 5% across both channels on last year.
Hibernian attributes this downturn to the loss of a key distributor early in the year, as well as increased competition in the protection market and some slowdown in new mortgage sales towards the end of the year.
