Royal London profits reveal margin pressures

According to the end of year results for 2006 published this morning, Royal London saw its overall operating profit before tax rise to £116m compared with £100m in 2005, as each division of the firm is reported to have continued to make positive gains. That said, both Bright Grey and Scottish Life International are highlighted as businesses whose profitability has been hit compared with last year as margins are tight. The group reports Bright Grey’s volumes of business continued to “increase strongly” but the complexities of life office financial reporting and the use of business persiste...