This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM-Cover-Top-140718.jpg

Bright Grey and Scot Prov record 17% new business increase

  • Print
  • Comment

Royal London protection arms Bright Grey and Scottish Provident saw new business rise 17 per cent to £393m in 2011, up from £337m in 2010.

Royal London’s accounts for the year to December 31, published today, show Royal London saw total new life and pensions business increase 6 per cent to £3.3bn in 2011, up from £3.1bn in 2010.

Royal London Asset Management saw a 67 per cent fall in net new business in 2011 to £379m, down from £1.1bn in 2010, while Ascentric new assets under administration rose 8 per cent to £1.3bn, up from £1.2bn.

Scottish Life’s new business rose 4 per cent to £2.3bn, up from £2.2bn the previous year.

Royal London 360˚ recorded a 21 per cent rise in new business, up from £329m in 2010 to £398m last year.

Royal London group chief executive Phil Loney says: “Our protection businesses and Royal London 360˚ have delivered double digit growth, Scottish Life and Ascentric have built on their considerable achievements of the past few years and RLAM has once again delivered positive net new business, which is commendable in the current environment.

“Our plans assume that market conditions will remain uncertain and difficult in 2012, but we remain focussed on delivering good performance, in terms of both new business and financial results.”

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

The Cost of Advice

Sponsored by Brooks Macdonald

Fund Data

Editor's Pick



Poll

Would you vote in favour of Scottish independence?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments