View more on these topics

Royal London reports 28% growth in pensions new business

Royal London saw a 28 per cent growth in pensions business for the first nine months of the year, from £1.7bn in 2012 to £2.2bn.

Pensions accounted for 75 per cent of all new business within the Royal London group, which was £2.9bn, up 14 per cent on the £2.6bn for the same period in 2012.

However, the protection division saw a 4 per cent fall on 2012 figures, with revenues of £342m, down from £356m.

The company says the decrease has been due to a subdued protection market and expects this trend to continue at least until the end of the year.

Offshore arm Royal London 360 saw new business figures of £345m, a rise of 28 per cent from £231m in 2012.

Group chief executive Phil Loney says: “New business growth across most of our core specialisms is very encouraging. New pensions business and especially group pensions continue to grow at an impressive rate.

“During the third quarter we acquired the life & pensions and asset management business of The Co-operative Group and this has significantly increased the scale of Royal London Group in terms of both customers and assets under management.”

Since the Co-op acquisition, Royal London has grown its customer base from 3.5m to 5.5m and assets under management has grown from £50bn to £70bn.


Anne Begg

Anne Begg calls for greater transparency to make charge cap viable

Work and pensions select committee chair Anne Begg says the Government must force providers to disclose all pensions scheme costs, including transaction costs, in order to make its proposed charge cap work. Last week pensions minister Steve Webb set out a range of options for an auto-enrolment charge cap including a charge cap of 1 […]


City AM’s Wilcox wary of Aim overvaluation

City Asset Management Aim manager David Wilcox is wary of overvaluation within Aim stocks following the recent move to allow them to be held in Isas. Since 5 August 2013, Aim stocks have been allowed to be held in Isas. Some Aim stocks also qualify for business property relief, making them exempt from inheritance tax […]

Govt will end ‘rigid requirement’ for quarterly company results

The Government will end the “rigid requirement” for listed companies to publish quarterly results in a bid to end short-termism in fund management. In its response to the Business, Innovation and Skills select committee inquiry into economist John Kay’s review of equity markets and long-term thinking, published this week, the Government says greater flexibility can improve […]


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