FRIENDS Provident’s international first quarter sales of ?56.5 million are an increase of 49% compared to the first quarter of 2009. March was a particularly strong month in Asia with sales in this region up 61% year on year accounting for half of international sales. First quarter sales in Europe also grew strongly against the same period in 2009.

The figures reflect the strong demand for Friends Provident International’s products and services as markets continue to recover.

Sales also grew in Germany with figures showing strong first quarter growth in a market that is beginning to stabilise. Following the acquisition of its distribution partner Financial Partners Business AG (fpb) at the end of December 2009 Friends Provident International continues to develop and expand its network of supporting brokers which are expected to contribute to profitable growth in the months and years ahead.

First quarter sales across the Friends Provident Group showed an increase on the same period in 2009. Trevor Matthews, chief executive officer of the Friends Provident Group, said:

"I am pleased to report sales up by 19% overall in the first quarter of 2010. Our International business is performing very well, especially in Asia and the Middle East where we are seeing some investor confidence return compared to early 2009. In the UK, our key priorities are in individual protection and group pensions. While we are working to drive forward our new tied distribution deals, individual protection sales have been constrained so far this year by the sluggish housing market. In the UK group pensions market economic conditions mean that reported new business remains slow but we exceeded the ?10 billion mark for funds on the platform in the first quarter and the launch of our Corporate Investment Platform means we are looking forward with confidence."

There was more good news for Friends Provident International which has won another prestigious award. The company’s Middle East office was named Life Insurer of the Year at the Policy magazine awards held at the recent INSUREX Conference 2010. This is another very strong endorsement of its operation in the Middle East and follows an earlier award as Life Insurer of the Year from the Gulf Insurance Review and success at the International Adviser International Life Awards where its international operations won 10 out of 24 awards.