Edinburgh-based Standard Life has reported better-than-expected sales of insurance and pension products in 2009 and the insurer expects the momentum to continue in 2010.

Standard Life said its life and pension sales in 2009 stood at 14.7 billion pounds, beating market expectations by 1 billion pounds. However, the figure was 7 per cent down from 2008.

Standard Life got an additional boost in the fourth quarter from large institutional pension deals. Company’s life and pension sales during the final three months jumped year-on-year 29 per cent to settle at 4.2 billion pounds.

Insurer’s domestic sales fell less-than-expected 10 per cent to settle at 10.1 billion pounds.

The company sees good prospects for its business in the current year.

Speaking on the topic, company’s CEO David Nish said, “We are confident about the future prospects for Standard Life.”

In the after-hours trading, shares in Standard Life gained 6.9 pence to 204.6 pence-a-share.