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52% regular premium increase for RL360°

RL360°'s results for 2012 are released

RL360° has recorded an increase of 52% in regular premium business in 2012.


This follows our decision, announced in January 2012, to switch focus to the more profitable regular premium market.


Spearheaded by RL360°’s regular premium savings product Quantum, £113.4 million of regular premium business was written in 2012, compared with £74.7 million during the same period in 2011.


RL360's decision to sell only Wrap business in the UK market led to overall new business being slightly down from 2011. However new business in our key markets outside of the UK saw an increase of just under 10%.


Regions recording a successful 2012 included the Far East and the Middle East.


The Far East wrote £86.7 million of business, a 58% increase on 2011. In the Middle East, business was up from £51.5 million in 2011 to £69.2 million in 2012.


RL360° is focussing solely on the wrap market in the UK and this is proving a successful strategy, with an increase from £64.5 million in 2011 to £66.1 million last year. More wrap partnerships will be coming online in early 2013.


David Kneeshaw, Chief Executive of RL360°, said: “There is some really good news here for RL360°. We are determined to always write business that is profitable and that is what we have done throughout 2012 by focussing on regular premiums.


“Our regular premium business is performing exceptionally well and this provides us with a fantastic platform on which to build.”