Pensions provider Royal London has posted a strong growth in sales through advisers following the Retail Distribution Review (RDR), with its platform new business sales up a record 39% on last year, the firm's interim results have revealed today.
The group sold 83,000 new UK life and pensions policies in H1 2013, an increase of 4% compared to H1 2012. The adviser channel delivered a rise in pension sales of 26% on H1 2012. Total new life and pensions business, on a Present Value of New Business Premiums (PVNBP) basis, was up 10% at £1.95bn, compared with £1.7bn in H1 2012. The group pensions business saw premiums rise 54% on H1 2012 and is positioned for further growth as auto-enrolment continues, the company said. The individual pensions business also remained robust despite a declining overall market, with premiums increa...
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