RL 360° sees new business sales increase 50% in Q1
From News May 17 2011 BY: Simon Danaher
, Online News Editor
, International Adviser
New business sales increased by 50% for Royal London 360° in the first three months of 2011, compared with the same period in 2010.
The Isle of Man-based offshore life company recorded new business worth £117m between 1 January 2011 and 31 March 2011, an increase of £39m on the total written between the same dates last year.
Meanwhile, Royal London 360°’s parent company, Royal London, increased new life and pensions business by 9% to £841m during the first three months of the year.
Natalie Hall, head of marketing at Royal London 360°, said the company’s regular premium savings product, Quantum, and single premium personalised portfolio bond range, contributed to much of the new business sales. However, she added that its wrap partnerships in the UK offshore market were also 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,” she added.