The company said sales in terms of present value of new business premiums (PVNBP) hit £591m in 2014, up from 2013’s year-end figure of £452m. While regular premium (RP) sales were up 18% to £141m last year, from £119m in 2013.
All of its five key regions – Asia, Africa, Latin America the Middle East and emerging Europe – hit revenue targets and finished the year strongly, according to a company statement.
“For the first time all regions and all products have done well,” RL360°chief executive David Kneeshaw said in an interview with International Adviser.
“We set our stall out for the type of broker who wants to use us – those who value the service, and value the better quality products – and we’ve stuck to our guns on that,” he said.
“We’ve also stuck to our guns on margins,” Kneeshaw said.
Latam growth
Asia was by far the biggest region for RP, with almost half of the sales coming from that region, though overall Latin America was beginning to shine by the last quarter of 2014.
“I think Latin America is going to be huge for us in 2015,” Kneeshaw said.
Business was already up 20% in the first two months of 2015 over the same period of last year, Kneeshaw said, helped by the growth in Latin America and also rising sales of its Quantum products, the firm’s regular savings plan.
This company relaunched its Quantum products in January and last year launched online dealing across all of its portfolio bond policies, allowing investment advisers to deal and switch between their policies with the company online.
RL360° emerged from a management-led buyout backed by private equity firm Vitruvian Partners in November 2013.
