NORWICH Union has reported no growth in premium income last year, with new business sales remaining at 1994 levels of £12.7 million.

The figures issued yesterday show that in line with competitors, such as Lifetime and Ark Life, Norwich Union had a difficult year on the life side of its business.

Sales of annual premium life protection products fell from £7.1 million in 1994 to £6.6 million last year, down by 7 per cent over that period.

Annual premium pension sales, however, were stronger than the previous year, up 9 per cent to £6.1 million compared with £5.6 million in 1994.