A POSITIVE outlook, buoyed by improving consumer confidence, is a springboard for business at Winterthur Life UK after a record-breaking 2004.

In the past five years, Basingstoke-headquartered Winterthur, which employs 800 people, has seen a massive 255 per cent growth in its business.

Among its successes last year, written premiums in the UK topped £1.211billion, with a further £249million in single premium self-invested personal pensions, and assets under management exceeded £6.7bn.

Total new insured single premium business in 2004 was up 15 per cent to £850m, compared with £740m in the previous year, while investment bond business leaped by 52 per cent to £43m, beating the industry by three per cent.

The only business sector to take a knock was the trustee investment plans, which were down 25 per cent to £43m.

And it all adds up to good news for Mike Kellard, chief executive officer of Winterthur Life UK, who is based in Basingstoke.

He said: "I am pleased to announce Winterthur Life has been able to grow its level of new business so strongly in 2004, which follows growth of

17 per cent in 2003 and 255 per cent in the past five years."

Mr Kellard said it had been a tough market in 2004, with uncertainty over the impact of new "A-Day" rules governing investments and the future prospects of the equity markets.

However, he added: "Signs of a recovery in consumer confidence are growing and clarity around pensions simplifications in April 2006 is emerging.

"I am therefore optimistic about Winterthur's future prospects, as it secures its strong position in the provider of choice for top-end pensions advisers supporting the financial needs of high net-worth individuals and corporate clients."

He put Winterthur's excellent results down to a wealth of experience and professionalism and a focused approach.

Mr Kellard said: "Winterthur Life is not mass market but exclusive and, by being focused, this path continues not only to generate new business growth but win industry accolades."