View more on these topics

Group pensions push ScotLife to record business levels

Scottish Life Group achieved record levels of new business last year as sales rose by 6 per cent over 1999 figures.

New singleand regularpremium business was up to more than £825m from £780m in 1999. Equivalent premium inc ome rose by 2 per cent to £139.9m from £136.9m.

Total new singleand regular-premium group pension business shot up by 56 per cent to £150m from £84m, representing an 18 per cent inc rease in equivalent premium income to £35.1m from £29.8m.

The life office attributes the rise in new business to strong sales of group pensions and the continued success of Scottish Life International. SLI business leapt by 40 per cent in EPI to £32.8m from £23.5m with single-premium bus iness up by 35 per cent to £316m from £234m.

ScotLife says the new business results were satisfactory, considering uncertainties surrounding stakeholder and concerns over mort gage endow ment shortfalls.

Group chief executive Brian Duffin says: “Most pleasing from a commercial perspective is that our focus on quality of business rather than just volume has continued to pay off. We have been able to add more value to the company as a result which is an achievement I am particularly proud of.”


Equitable takeover deal may be in sight

IFAs predict a speedy res olution of the Equitable Life debacle after it was revealed that up to hundreds of FSA staff are burdened with pension top-up sch emes with the life office. The news comes as Aegon, GE Capital and AMP are understood to be lining up bids for the life office. While GE […]

Old Mutual fund gets AA rating before launch

Standard & Poor&#39s Fund Services has awarded an AA rating to Old Mutual Asset Management&#39s new smaller companies fund, two weeks before its launch. OMAM&#39s Select fund, due to start on January 29, was awarded the rating on the back of star fund manager Ashton Brad bury&#39s past performance at his previous inv estment houses. […]

Mortgage borrowers &#39taking more control&#39

Mortgage borrowers are taking more control of their finances, with 43 per cent either remortgaging, renegotiating terms or increasing borrowing, according to a Council of Mortgage Lender survey. The survey shows 16 per cent of borrowers now have flexible mortgages but only 5 per cent have ever taken a payment holiday. Only 9 per cent […]

Ernst & Young report anticipates rate cut

The likelihood of a cut in UK interest rates is growing as an independent report anticipates a slowdown in economic growth, reflecting a downturn in consumer spending. A report published by Ernst & Young&#39s Item club predicts a slowdown in consumer spending growth to 2.5 per cent in 2001 and 2 per cent in 2002 […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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