Sovereign Tops Market With $500 Million Milestone

Thursday, 13 December 2001, 4:33 pm
Press Release: Sovereign

Sovereign Tops Market With $500 Million Milestone & Leading New Business Growth

Sovereign announced today that it has attained $500 million in insurance and savings annual premiums for existing business, the first company in New Zealand to do so.

The $500 million is made up of $308 million in premiums from savings business and $192 million from insurance business.

Sovereign also announced substantial growth in savings and investment inflows attracting growth of 23 per cent of the total market for the quarter ending 30th September.

Sovereign Managing Director, Simon Swanson says, “The strong growth we are experiencing is a vote of confidence from investors at a time when investment decisions are being made conservatively in light of recent worldwide events. Our market leadership position is one that we will continue to strive for and will defend strongly.

“This growth demonstrates that in these volatile markets, we’re continuing to provide savings and investment products that will grow the value of client’s portfolios.

Sovereign has funds under management in excess of $3.5B and employs over 800 people.

Ends

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