Royal London sees sales lifted by its takeovers - Business - Evening Standard
       

Royal London sees sales lifted by its takeovers

Royal London is part of a dying breed — it's a mutual insurer owned by its policyholders — but today it suggested there could be some life in the sector yet.

It saw sales up 8% in the first nine months of the year to £1.85 billion, though that does include the effect of businesses it acquired in 2008.

Critics of the company wonder why it does takeovers, arguing that this fulfils the ambitions of management rather than aids the supposed owners, the customers.

Chief executive Mike Yardley sees benefits in scale. "We are increasing the total amount of profitable new business despite the uncertain economic backdrop," he said.

Royal has funds under management of £35 billion and four million policyholders.

Comments

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity