View more on these topics

Bright Grey new business falls 19 per cent

Bright Grey’s new business levels have fallen by 19 per cent from £47m in the first quarter of 2007 to £38m in the same period this year.

Royal London’s first quarter business results released today show that total life and pensions new business is up 5 per cent from £398m in the first three months of last year to £417m this year.

Scottish Life new business was up 9 per cent from £310m to £337m while Scottish Life International new business was up 20 per cent from £30m to £36m.

Royal London Asset Management business remained flat at £620m.

Group chief executive Mike Yardley says: “Considering the economic environment and the increasingly competitive markets in which we operate, these are very satisfactory results. 

“I am particularly pleased that Scottish Life has achieved increased levels of business in both individual and group pensions.  Our international business has also delivered healthy growth, with 20 per cent overall increase in business and UK operations performing particularly well.

“In line with other major product providers our protection business has been impacted by the slowdown in the mortgage market.  However the potential market for protection is huge and we are working with IFAs to help them develop and grow their protection businesses.”

Recommended

A commission conundrum

PruProtect’s decision to boost the commission it pays advisers who sell its severity-based critical illness cover has come under fire this week.

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com