New business up 45% at Bright Grey and Scot Prov

Applications up 18%

Bright Grey and Scottish Provident have seen a 45% rise in new business during the first three months of the year.

For the three months to March 31 2012, new business levels were up 45% to £107m while the number of applications was up by 18%.

The figures are calculated on a present value of new business premiums basis, which is comprised of new single premiums plus the expected present value of new regular premiums.

Ross Ainslie, managing director of Bright Grey and Scottish Provident, said the businesses have been through a significant overhaul over the past year.

He said: “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.”

Ainslie said that this year, Bright Grey and Scottish Provident are focusing on supporting advisers to help them secure more protection business.

He added: “It’s going to be a year of unprecedented change for the industry with the introduction of Retail Distribution Review, 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."

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