BANK of Ireland's life assurance and pensions arm Lifetime has reported strong increases in sales of both investment products and pensions in the first six months of the year.

Sales of regular premium investment and savings products such as Life Assurance and savings plans grew from £4.6 million in the first six months of 1995 to £7.5 million in the first six month of this year. Pension sales grew from £2.1 million to £2.6 million.

The company also achieved a major increase in the sales of lump sum, or single premium products. These grew from £9 million in the first half of 1995 to £31.5 million in the same period this year. Unit linked products accounted for £21.3 million of sales.

The figures indicated a recovery in the regular premium savings market, due largely to the introduction of new products in March, according to Mr Ruairi O'Floinn, the managing director of Lifetime. The results were also helped by the return of confidence to the unit linked market, he said.