- Hansard Global said its locally-licensed partnership in the UAE helped deliver new business growth in its fiscal third quarter.

New business for Q3 2019 rose 4% to £34.1m in present value of new business premium (PVNBP) from a year earlier, the company said.

Overall for the year to 31 March 2019, new business fell to £108.3m compared with the prior year period level of £109.8m, it added.

The momentum with our locally licensed venture in the UAE had continued and was delivering 'very solid growth,' the company said. New business in the Middle East & Africa region in Q3 2019 was up 14% compared to Q3 2018 and up 35% year to date.

Assets under administration recovered in line with global stock markets and were £1.03bn at 31 March 2019, compared with £975m at 31 December 2018.

Over the course of the remainder of its financial year, Hansard said it expects to 'see the strong growth from our strategic relationship in the UAE be maintained.'  Based on current run-rates we expect to finish ahead of our 2018 new business total.'

'We are pleased to have delivered a further quarter of new business growth with the main highlight clearly our locally-licensed partnership in the UAE. We remain optimistic that opportunity for growth exists across each of our regions and continue in particular to make progress in our licence application process in Japan,' said Gordon Marr, Group Chief Executive Officer.

At 9:18am: [LON:HSD] Hansard Global PLC share price was +0.8p at 39.7p

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