Legal & General (L&G) posted a 34% rise in total new business for the first quarter of 2001 compared with the same period last year, with the bulk of assets generated from its retail offerings.

Total new business amounted to £233m (€380m) for the quarter. Individual pensions saw a net new annual premium rise of 95% to £43m, largely as a result of mandates won from L&G's stakeholder product from fee-based employee benefit consultants.