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Royal Liver makes progress through protection arms

Royal Liver admits that 2007 was a challenging year for adviser arm Park Row which lost around 100 advisers and closed 17 branches.

The firm cites the unsuccessful integration of its managed salesforce into Park Row as well as regulatory reviews and the “ever increasing” cost of compliance.

It says it will spend this year recruiting advisers and is confident its flexible working conditions and new IT system will attract quality candidates.

Royal Liver’s new business for 2007 were down slightly on the previous year, which it says was due to the closure of the managed salesforce in Ireland in 2006 and stopping sales of pension term assurance in the UK from December 2006.

Its protection arms, Progress and Caledonian Life, performed strongly. Royal Liver says the prominence of the Progress brand increased during the year and it has seen record levels of new business in the first quarter of 2008.

Caledonian Life’s with-profits bond sales were particularly buoyant and initiatives such as the launch of a seriousillness product for mortgage protection and introduction of an online broker resource centre contributed to strong sales.

Chief executive Steve Burnett says: “Delivering the society back to an expense surplus position is a true achievement in the face of a constant battle to manage our inevitably declining legacy book and challenging market conditions. Our new business areas continue to grow, with particular success in the protection market.

“Turbulent economic conditions will no doubt create challenges but we have confidence that Royal Liver is well positioned to make further progress.”



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I did not think I would ever write this but I am really pleased that the Government decided to design and build a private sector funded pension plan. I know you all think that is a bit of a U-turn for me, what with all I have said about this proposal to build a national scheme of personal accounts, but I mean it.

UK policy: Kate Moss and short-termism

“Nothing tastes as good as skinny feels,” said supermodel Kate Moss, who is not often credited for her insights into policy making. Perhaps she should be. In politics, as in matters of diet, the course of action that is the best over the long term is often not the most desirable course of action in the short term. Add the instant gratification of the democratic electoral cycle and, instead of good policy making, you sometimes get the equivalent to a midnight binge in front of the fridge.

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Important information

Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.


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