Bright Grey new business drops 19%

The mutual life and pension firm’s new business figures for the first quarter of 2008, released today, show Bright Grey took £38m in the first three months of the year compared with £47m in the same period in 2007. However, other Royal London propositions have fared better with new business for both Scottish Life and Scottish life International up 9% and 20% respectively. In addition, total new life and pensions business at Royal London climbed 5% to £417m, while the group’s newest business, Fundsdirect, which operates the Ascentric wrap platform, is celebrating a 43% climb. Mike Yardley...