HANSARD Global plc has managed to overcome the economic gloom within financial markets and has recorded and increase in new business flows of 33 per cent.

The Douglas-based company has reported new business of £221.1m PVNBP, showing improved margins which have increased to 8.3% (2010: 6.9%), primarily as a result of increased volumes of regular premium new business from Latin America and the Far East.

A statement issued today said, “The Group’s strategic positioning to benefit more from those growth markets is bearing fruit.

“Whilst challenging financial markets, continuing investment in our business and the increased burden of regulatory, compliance and related costs contributed to profits being only marginally above last year, we have increased EEV by £10m to £257m, following dividends of £18.5m paid during the year.”

The EEV operating profit at £14.9m was broadly in line with the prior year and higher than previous guidance, due to certain anticipated expenses not having been incurred.

Operating cash flows were positive during the year, allowing the group to fund new business and strategic developments from its own resources. The board of directors has proposed a final dividend of 8.0p per share which, if approved by the shareholders, represents a total dividend of 13.75p per share in respect of the financial year (2010: 13.2p), an increase of 4.2%.

The value of assets under administration has increased by 8.4% over the year, despite the impact of prudent valuations on certain policyholder assets.