Royal London total new life and pensions business rose 35% in the first half of the year, driven by strong performances from Scottish Life and Royal London 360.
The mutual life and pensions company says new business on a PVNBP basis increased to £1,615m in the half year ended June 30, up from £1,194m in 2009.
Continuing very strong performance from Scottish Life as well as a healthy increase at Royal London 360 led the rise.
Scottish Life new business was up 62% to £1,127m, compared to £694 m in 2009.
Royal London 360 new business up 20% to £153m, up from £127m in 2009.
However the Group's protection arms continue to be hard hit by the downturn in the property market and the harsh economic environment.
Bright Grey new business was down 21% to £75m, a fall from £96m in 2009.
Scottish Provident new business was also down, dropping 17% to £95m compare to £114m in 2009.
Elsewhere, Royal London new retail business was down 6% to £50m, from £53m in 2009.
However there was strong performance at the group's asset management arm RLAM, where net new business excluding cash mandates rose 178% to £700m, compared to £252m in 2009.
The group's wrap platform Ascentric also reports a strong performance, with new assets under administration up more than fourfold to £552m, compared to £120m in 2009.
Mike Yardley, Group chief executive says: "In the face of difficult markets the overall level of new business achieved is very good. I am particularly pleased that Scottish Life is continuing to attract record levels of business and that our international business, Royal London 360˚, is performing well."
He says market conditions have impacted on the protection business as a whole, though he remains broadly confident about future success.
"Protection new business continues to be hard hit by the downturn in the property market and the harsh economic environment. Life assurance is, unfortunately, viewed by many as a cost item that can be dispensed with."
"Both our protection brands have been successful in developing new business in other areas of the protection market and I remain confident that the long-term prospects remain positive."
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