Life - Articles - Royal London 360° records 50% increase in new business


 Royal London 360° has written a 50% increase in new business for the first three months of 2011, compared to the same period in 2010.
  
 The Isle of Man-based offshore life company recorded new business worth £117 million between 1 January and 31 March 2011, an increase of £39 million on the total written between those dates last year.  
  
 In addition, Royal London 360° has retained its ‘B+’ financial strength rating awarded by the specialist financial services consultancy firm, AKG – no other offshore life company is rated higher. The company has also been awarded an additional star in AKG’s overall annual review rating, giving it four out of a possible five.
  
 Natalie Hall, Head of Marketing at Royal London 360°, commented: “We have had an impressive start to 2011, with an outstanding first quarter performance that has resulted in a 50% increase in new business. Our regular premium savings product, Quantum, and our single premium personalised portfolio bond range have contributed to much of this success. However, our Wrap partnerships in the UK offshore market are continuing to produce strong returns.  
 “We expect the second quarter of 2011 and beyond to be buoyed by the recent launch of Oracle, an international single premium guided architecture investment bond – this is already proving to be very popular with IFAs and investors.
 “I am delighted that our continuing hard work has resulted in us retaining our AKG ‘B+’ financial strength rating, and gaining another annual review star. This highlights that we are moving in the right direction as a company, and our staff should be proud of their achievements.”   
  
 Royal London 360°’s parent, Royal London, saw a total increase in new life and pensions business* of 9%, to £841 million (£775 million, 2010). Royal London is the UK’s largest mutual life and pensions company; Royal London 360° is the group’s international division.
  
 Royal London has recently announced the appointment of Phil Loney as its new Chief Executive, following the news its current Chief Executive, Mike Yardley, is to step down. Mr Loney joins from his current role as Managing Director of Life, Pensions and Investments at Lloyds Banking Group, and will take up his new position in October 2011.

Back to Index


Similar News to this Story

CMI says mortality is low for the time of year
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monit
CMI notes deaths below normal levels in recent weeks
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monit
Only a third of over 50s had life insurance in the past year
Most over-50s didn’t have life insurance at any point during the pandemic, with cover having slipped down the priorities list for many.

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.