Royal London sales up 14% but asset management dives

However, recent acquisitions accounted for half the increase in life and pension sales, and the firm’s asset management division saw new business slump by almost half. Total group life and pension sales for the first three quarters hit £1,710.4m, up from £1,495.2m in the same period of 2007. This figure includes £118m from the acquisitions of Scottish Provident International and Phoenix Life Assurance Ltd. Scottish Life accounted for the bulk of sales with £1,169m, while Royal London saw the biggest sales growth, with new business climbing 25% to £168m. Protection arm Bright Grey was the...