Pensions  

Suffolk Life purchase doubles Curtis Banks Sipp numbers

Suffolk Life purchase doubles Curtis Banks Sipp numbers

The number of self-invested personal pensions administered by Curtis Banks has doubled have doubled in numbers year-on-year.

The unaudited 6 month period ended 30 June 2016 saw 67,161 Sipps administered, compared with 26,755 at the 30 June 2015.

Alongside this, operating revenue has increased to £10.8m from last year’s £7.5m, a total of 44 per cent.

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Curtis Banks’ operating profit before amortisation and non-recurring costs was 27 per cent this year, against last year’s figure of 34 per cent, and the figure at the end of December 2015 was 36 per cent.

Chris Banks, chairman at Curtis Banks, said: “The first half of 2016 will always be remembered for the acquisition of Suffolk Life.

“It has been a transformational acquisition and one which presents considerable long term opportunities for the group.

“It is equally important to recognise the progress within the business aside from the Suffolk Life headlines.

“Curtis Banks has successfully integrated the previous acquisitions and is in a very strong position to continue as a specialist administrator in a changing market. We are all very optimistic about our prospects.”

ruth.gillbe@ft.com