This is up 8% on the £270m reported in the same quarter in 2011.
UK sales were up to £197m from £172 million this time last year driven by the inclusion of Winterthur Life UK Limited in November 2011. Excluding WLUK sales increased to £177 million.
Protection annual percentage earnings were £18m over the period down on a quarterly basis from the £92m achieved over the whole of 2011.
The group said it had maintained a strong balance sheet with an estimated Insurance Groups Capital Adequacy surplus at the Friends Life group level of £1.9bn compared to £2.1bn at the end of 2011.
This reflects the payment of a £250m dividend up to Resolution Holdings (Guernsey) Limited in March 2012.
Andy Briggs, group chief executive of Friends Life Group plc, said: "Momentum in Friends Life has been maintained with materially improved business results, especially in the UK where our strategy is working and helping to drive cost synergies and efficiencies throughout all our activities.
“While the International division has faced some adverse operating and market conditions impacting volumes, Lombard has generated strong sales. The capital position remains strong and we are well placed for the opportunities emerging this year through auto-enrolment and RDR."
