Progressive Life, Irish Permanent's life and pensions subsidiary, has reported strong business growth for 1997, especially in its single premium business where new premiums more than trebled to £67 million. New annual premiums rose 19 per cent to £13.5 million.

Progressive Life managing director, Mr Frank McHugh, said that single premiums business in both life and pensions had been very buoyant, with the growth in life single premiums due to sales of PIP and PEP products.

Mr McHugh said that sales through independent brokers had grown by almost 40 per cent last year.