The International Life Offices Association has issued figures that sales for Offshore products fell by 18% last year.
Our View
A surprising result. We can only think that this has been influenced by the global slowdown on investment generally as well as a clampdown on sources of investment with tighter anti-money laundering procedures.
In addition, many countries, including the UK, are attempting to make their State and products more attractive to non-resident investors applying even greater pressure to offshore investment centres.