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GPPs leading the way for Scot Life

Scottish Life&#39s business shot up by almost a quarter in 2001, driven

by an increase of more than 70 per cent in group personal pension

sales.

Overall business rose to £170m from £137.2m in 2000 on an

equivalent premium income basis, with group personal pension sales up

by 71 per cent to £37.5m from £21.9m.

Sales of group pensions jumped by 44 per cent to £49.5m from

£34.4m, while individual pension sales rose by 15 per cent to

£46.7m from £40.6m.

However, mortgage payment protection and life products suffered a

slump, falling by 48 per cent to £4.9m from £9.4m.

Chief executive Brian Duffin says he is delighted with the results,

particularly as they were achieved in a year in which ScotLife was

taken over by Royal London.

He says: “We were aware many other life companies had suffered a

slowdown in new business levels during their demutualisations. We

worked very hard in all areas of the business and at all levels to

ensure we did not lose focus on gaining good quality business for

Scottish Life.

“We have had a strong focus on pensions – both corporate and

individual – for many years. Our expertise in this very important

sector was clearly crucial to our success in 2001.”

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