Bright Grey and Scot Prov new business slump continues

The Royal London owned pair reported a combined drop in sales of 17% to £141m (on a Present Value of New Business basis) compared to £170m in the first six months of last year. These figures continued last year's slide which eventually saw new business drop more than 10% despite a fourth quarter recovery. The providers have seen a significant back-office realignment over the first half of the year which has resulted in, among other things, shared sales teams. However, the Group has maintained that the brands will remain separate entities. A statement from Royal London explained ...