RL360 records 24% new business growth in 2013
RL360 recorded an exceptional 24% growth in new business (PVNBP*) last year, with 451m written across our single and regular premium products.
Our year end results show there was 33% growth in single premium new business, with £332m written in 2013, up from 2012's £250m.
And the figures show £119m of new regular premium business written during 2013, up from £112m in 2012.
The latter part of 2013 saw huge change for us with a management-led buyout, backed by private equity firm Vitruvian Partners, going through in mid-November. This saw us break away from the Royal London Group and re-brand as RL360. It has allowed us to expand into new markets in early 2014, such as Latin America.
Independent actuaries AKG eyed the buyout positively, referring to RL360 as "a financially strong standalone operation with very strong operational characteristics and positive development potential".
Director of Marketing Natalie Hall said: "2013 was a fantastic year for RL360 on so many levels. It was pleasing to achieve excellent new business growth in all key regions during the year. Becoming a part-owner in the business in November was a privilege, and a move that has been supported and viewed really positively by our distributors and partners.
"The entire management team is excited about shaping our future plans, whilst making sure we maintain our focus on listening to customers and adapting our products and technology to enhance their overall experience of working with RL360.
"It is crucial that what makes RL360 special stays intact."
- 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.