Friends First Life Assurance, in common with other life offices, recorded strong growth in 1998. Annual premium equivalent grew by 50.3 per cent from €39.1 million (£30.8 million) to €58.7 million (£46.2 million).

The results, the group said, place it in the top quarter of insurance company performers in Ireland. And the company noted that the performance was prior to the transfer of the First Active tied agency business to Friends First and the launch of its first Consensus Fund, the benefit of which are expected to accrue this year.