RL360° records 14% increase in new business
RL360° records impressive sales results in the first 6 months of 2014, contrasting with several competitors who have reported reductions in new business.
RL360° has recorded an impressive 14% growth in new business (on a PVNBP* basis) in the first half of 2014, compared to the same period in 2013. New business rose from £223.4m in H1 2013 to £255.4m in H1 2014.
Sales have been strong across the full range of products and across all regions, with particularly impressive performance in the Far East and European markets. The period also saw the first new business from RL360°’s newest market, Latin America.
The good news follows RL360° retaining its coveted B+ Financial Strength rating from independent actuaries AKG in late August. No other international life office has a higher rating.
Director of Marketing Natalie Hall said: “We are delighted to have performed so strongly under our new independent ownership, particularly with many of our competitors struggling with reported sales down in the first half of 2014.”
*PVNBP figures are the present value of new business premiums. The PVNBP figures are calculated as new single premiums plus the expected present value of new regular premiums.