Growth in the three international arms of the Friends Provident group smashed all expectations in 2009 and accounted for over half of the group's new business sales for the year.

International sales of £465 million for the year were up 2% on 2008, with Friends Provident International (FPI) reporting sales of £183 million, Lombard £273 million and AmLife £9 million. (Sales for the group as whole totalled £873 million.)

Rocco Sepe, managing director of Friends Provident International, commenting on the results said: "We consider the results to be absolutely sparkling. Looking at the whole of the year we have posted an increase on 2008 which is extraordinary when you think about the turmoil there has been throughout world markets in 2009, so we are really pleased. Looking at how we have progressed through the year, we have grown in every quarter culminating in an absolutely spectacular fourth quarter - we were up over 40% on the fourth quarter of the previous year."

"From a group perspective, Friends Provident is really benefiting from being diversified - more than half the business now comes from outside the UK and we see lots of opportunities going forward outside the UK."

Looking at the three businesses individually, FPI achieved quarter on quarter growth throughout 2009. Although demand in Hong Kong remains well below the peak level of early 2008, there are signs of improvement. FPI has significantly increased its share of linked business in this market from 6.0% for the full year 2008 to 11.2% for the first nine months of 2009.

Lombard, the international estate planning life assurer, achieved record sales, both for the quarter (£199m) and the year (£273m). Lombard had particularly strong Quarter 4 sales in the Italian market and its Swiss operations also contributed significantly.

AmLife, Friends Provident's Malaysian Life Insurance joint venture with AmBank Group, performed strongly throughout 2009. 30% of full year APE was £9.1 million.

Sepe continued: "I think a big factor in our success is just how close we keep to our partners. We are very reliant on our partners in the different territories in which we operate; we always work through people who have deep local routes and when times are tough we get even closer to find out what solutions their clients might need, what their concerns might be and we work hard at that."

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