Royal London total new business up 35% in H1

The mutual life and pensions company says new business on a PVNBP basis increased to £1,615m in the half year ended June 30, up from £1,194m in 2009. Continuing very strong performance from Scottish Life as well as a healthy increase at Royal London 360 led the rise. Scottish Life new business was up 62% to £1,127m, compared to £694 m in 2009. Royal London 360 new business up 20% to £153m, up from £127m in 2009. However the Group's protection arms continue to be hard hit by the downturn in the property market and the harsh economic environment. Bright Grey new business was d...