Norwich Union International, the Dublin based offshore business of Aviva Plc has reported sales growth of 60 per cent in 2007, worth a total of £521 million.

The company said that its sales of unit-linked offshore bonds more than doubled to £280 million.

Neil Davies, director of marketing – investments at Norwich Union, said, Sales in the UK have grown strongly because we have continued to enhance Premier Portfolio - our flagship open architecture wrapper. For example, in 2007, we have created a market-leading Discretionary Manager proposition, with inspecie transfers being one of many new additions.

Davies continued, The attractiveness of discretionary asset management has continued to grow strongly. More advisers and discretionary managers are combining their skills to create compelling customer offers, and offshore bonds are a critical ingredient to this mix.