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Royal London announces Group half yearly results

Royal London Group is announcing its six-monthly interim results today, which it says proves its strategy of focusing on specialist business distribution through intermediaries is working.

The mutual announces business growth of total group life and pensions business by 30 per cent to 115m in annual premium equivalent terms.

Scottish Life new business is up 31 per cent at 97m on an APE basis.

Bright Grey, the mutual’s protection arm, sees new business up 18 per cent at 11m (APE).

Scottish Life International new business is up 46 per cent at 7m APE and Royal London Asset Management including Royal London Cash Management is seeing a net new business of 450m.

Royal London chief executive Mike Yardley says: “The group has sustained its new business growth through the half year. All business areas have continued to build on their 2004 performance, which itself was overall 7 per cent up on the previous year.

“This continued growth demonstrates the effectiveness of the groups strategy, to develop specialist businesses with a clear market focus and distinctive propositions.”


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