Auto-enrolment drives record new business at Scottish Life

Jenna Towler
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Scottish Life has posted record new business results for the 12 months to 31 December, with total life and pensions business valued at £2.4bn.

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...

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