Royal London reports APE up Jan-Sept

On an Annualised Premium Equivalent (APE) basis, the group’s Scottish Life, Scottish Life International, Bright Grey, and life and pensions administration business RLAS, saw sales increase 13% to £202.5m from £179.4m over the same period last year. This includes relevant DWP rebates. APE is the industry-standard way of measuring change, consisting of regular premiums plus 10% of single premiums. The overall 13% figure hides some big differences between the different business lines, however, including Royal London Asset Management. For example, excluding DWP rebates, the Scottish Life pe...