The future of Bright Grey is secure even if its parent Royal London buys Scottish Provident, the firm pledges today.
Royal London head of intermediary business, John Deane, says Bright Grey and Scottish Provident will run side by side despite the fact both operate mainly open-book protection business. As part of the forthcoming Pearl/Resolution deal, it was agreed Scottish Provident would be purchased by Royal London. Pearl and Resolution operate closed-book business so offloading Scottish Provident – mainly open-book – was expected. However, as Bright Grey also operates open-book business, some industry commentators have questioned whether Royal London would merge Scottish Provident with Bright Grey. ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes