Scottish Provident has reported a 35 per cent rise in premium income from new business for 1997 based on the annual premium equivalent measure. The mutual company reported APE - new annual premiums plus 10 per cent of single premium income - of £14.7 million, writes Mary Canniffe.

Total single premium income rose by 71 per cent to £65 million. Single premiums from pension business was 81 per cent ahead at £22 million while life business generated single premiums of £43 million, an increase of 65 per cent.

Total annual premiums increased by 15 per cent to £8.2 million, according to Scottish Provident. The company reported a 21 per cent rise in annual premium income from pensions to £5.6 million and life business contributed annual premiums of £2.6 million.