Auto-enrolment drives record new business at Scottish Life

This was up 8% from the previous year which stood at £2.25bn. Ewan Smith, managing director of Scottish Life, said the results were solid despite the difficult economic background. He said the fourth quarter of last year saw sales of £662m, which were 48% higher than the same period in 2011. The majority of new business came from group pension sales, which reported a 21% increase while personal pension sales were up 2% year on year. Smith explained: "A lot of the growth we are seeing is coming from the group market. That reflects the significant uptick in adviser activities with em...