Strong new business results for Bright Grey and Scottish Provident
New business levels at Bright Grey and Scottish Provident are up 45% to £107m for the three months to March 31 on a present value of new business premiums (PVNBP) basis and applications are up by 18%.
Ross Ainslie Bright Grey and Scottish Provident managing director, said: “Throughout last year the businesses went through a significant overhaul to enable us to compete in difficult trading circumstances and challenge the established players in the market.
“As well as enhancing the products across Bright Grey and Scottish Provident, we amalgamated the sales forces and carried out six months of concerted marketing and sales engagement to help advisers develop and strengthen their business.
“This sustained activity meant that we saw a very strong finish to the year, which I’m delighted to say we’ve continued into 2012."
And he added: “This year we’re helping advisers sell more protection with support from Bright Grey’s Magic Circle and Scottish Provident’s Next Level campaigns, which give them the tools and marketing material to secure more business.
“It’s going to be a year of unprecedented change for the industry with the introduction of RDR, the gender directive and I-E, but with these changes comes a huge potential for advisers to engage with and build their client base, and this year's marketing and sales activity will focus on these opportunities."
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.
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