Investors continue to lift St James’s

The company’s most closely watched measure of sales – a combination of regular and single premiums – grew by 18 per cent to £156.7m year on year, against forecasts of just over £151m.

Chief executive David Bellamy said St James’s ongoing recruitment drive and a greater willingness on the part of investors to take control of retirement planning would help the company maintain momentum in sales growth after a stellar 2010.

“You have sustained low interest rates which make people more attentive about how they manage their wealth, there’s the tax burden across Middle England that people are beginning to feel the pinch on and an acceptance that people are living longer and need to provide for themselves,” said Mr Bellamy.

Its investment, pensions and insurance product range attracted £800m in the first quarter.