Growth at FPI, on an annual premium equivalent basis, was 49%, reaching a sum of £56.5m ($81.5m), while Lombard’s new business increased 62% to £33m in the first three months of the year.
On a regional basis, Asia (Hong Kong and Singapore) saw the strongest growth. FPI highlighted March as a particularly good month, with 61% year-on-year growth recorded.
The region also accounted for half of all FPI’s new business over the period at £26.9m. Europe and the UK also reported strong growth, although from relatively small bases.
New business in the former totalled £10.5m compared to £7.2m a year earlier and the UK was £2.7m up from £1.1m.
The Middle East appears to have stalled somewhat, with an increase of only around £300,000 compared with Q1 2009.
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