Personal Pension  

Zurich assets grow by £2.35bn in 2013: CEO

The provider’s UK life chief executive said UK platform assets had reached almost £7bn by the end of the third quarter of 2013, with Zurich’s corporate business gaining significant momentum during 2013.

Being retained by Mercer as one of its preferred suppliers for workplace savings, in addition to securing a major new partnership agreement with Barclays and strong overall performance in the auto-enrolment space, had contributed to a positive year to date, according to Mr Shaugnessy.

He said: “This is the first time we have announced our assets on platform figures, and they show an exceptionally strong year of growth and momentum.

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“We continue to focus on our core proposition of helping people manage risk through our investment, pension and protection solutions and we have delivered on the promises we made to our corporate customers at such a critical time with the successful implementation of auto-enrolment.

“Looking ahead, and in response to adviser and customer demand,we will be launching the first in a series of new solutions linking investment and protection in the New Year.”

Mr Shaughnessy, added that Zurich had also successfully implemented auto-enrolment reforms for large employers, with the number of members contributing to its workplace pensions doubling in just twelve months.

Aon Hewitt has selected Zurich to be the pension provider for its auto-enrolment solution directed at small and medium-sized enterprises, while Zurich’s retail platform, has signed up a number of cornerstone agreements with companies including Openwork, Lighthouse, Simply Biz, Bellpenny, and the Best Practice network.