EAGLE Star has reported strong growth in sales of pensions and new life assurance business over the past 12 months. According to figures issued yesterday, sales of new annual premium pensions increased by 32.2 per cent to £10.08 million, while single premium pensions rose by 29.5 per cent to more than £36 million on the previous year.

The group also reports some recovery in sales of life assurance products with new annual life premium sales up 23 per cent to £4.66 million while single premium unit linked business almost doubled to £9 million. Eagle Star managing director Mr Michael Brennan said much of the growth was due to investors shifting funds from low yielding deposit accounts into investment products.