Royal London life and pensions sales soar; RLAM sinks

On a like-for-like basis, business climbed 6%, but acquisitions boosted total life and pensions sales to £2.23bn. Excluding recent acquisitions, sales climbed from £1.9bn in 2007 to £2.01bn at the end of 2008. Scottish Life saw strong sales in individual pensions, up 24% to £879m, but group pensions sales fell dramatically, down 17% to £403m. Protection brand Bright Grey made £181m of sales, up 5%, while Scottish Life International added 1% to £167m. The group's move away from commission payments and towards the FSA's recommended adviser charging model means much of its new business...