UK - Royal London Group has reported record sales of £1.65bn for 2003 - despite a "demanding" year.
The firm said it increased its market share in several key sectors throughout “tough trading conditions” in the pensions market.
Scottish Life – the firm’s wholly-owned life office subsidiary – increased its share of the pensions market within the IFA sector, despite an 8% drop in total new premiums to £780m.
Group chief executive Mike Yardley said: “We’re very pleased not only to have increased our market share in several key sectors, but to have increased total new business for the group in what has been a very demanding year for the life and pensions industry.”
In this week's Pensions Buzz, we want to know whether you think a contract-based, trust-based or a master trust arrangement would be best for a new defined contribution scheme.
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