Scottish Life boosts Royal London profits

The contribution from new business for the year was £84m; an improvement of 33% over the period. Scottish Life performed particularly well, increasing its new business contribution by 88% with sales in 2010 up 37% to £2,159m (2009 £1,578m) on a PVNBP basis. Royal London says: "Whilst the sales in the first quarter of the year were boosted by the implementation of the change in the minimum pension age, sales volumes throughout the rest of the year remained strong." The group's total present value of new life and pension business premiums also increased by 26% to £3,104m (2009 £2,461...