Royal London life and pensions sales soar; RLAM sinks

clock

Royal London saw group life and pensions sales climb 17% during 2008, with 90% of individual new business coming from advisers charging agreed fees.

On a like-for-like basis, business climbed 6%, but acquisitions boosted total life and pensions sales to £2.23bn. Excluding recent acquisitions, sales climbed from £1.9bn in 2007 to £2.01bn at the end of 2008. Scottish Life saw strong sales in individual pensions, up 24% to £879m, but group pensions sales fell dramatically, down 17% to £403m. Protection brand Bright Grey made £181m of sales, up 5%, while Scottish Life International added 1% to £167m. The group's move away from commission payments and towards the FSA's recommended adviser charging model means much of its new business...

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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read
Schroder Investment Solutions expands distribution of MPS

Schroder Investment Solutions expands distribution of MPS

Expanding the range of DFM choice on the Parmenion platform

Ayesha Venkataraman
clock 06 December 2022 • 2 min read