Scottish Life Beats 'Turmoil' Print E-mail

Edinburghnews – 9 February 2009

SCOTTISH Life, the life and pensions company, has recorded an increase in new business despite the "turmoil" in world economies.

The company, part of Royal London, the UK's biggest mutual life company, saw new business levels increase by six per cent to £1.5 billion in the year to the end of December.

It also saw strong growth in individual pensions, which rose by nearly a quarter to £879 million, however, the firm, in line with industry trends, saw group pensions decline by 17 per cent, to £403m. New business at Scottish Life International increased by one per cent to £167m.

Mike Yardley, Scottish Life's chief executive, said it had been "a particularly good year".

"To increase new business is testament to the quality of our products," he added.

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