Progress business heads to Royal London

The mutual insurer already has two protection businesses, Bright Grey and Scottish Provident, under its roof and this deal could add a third with the Progress back book. Progress closed to new business in September after a then last minute deal with a potential buyer fell through. In its last set of critical illness claims data, it paid 89.5% of claims, declining two, one each for non-disclosure and not meeting the policy definition. Progress was launched in 2003 and lauded as financial services first online only protection provider. The transfer is subject to regulatory approva...