Royal London funds under management were up £1.9bn to £30.8bn to December 31 2006, according to resu...
Royal London funds under management were up £1.9bn to £30.8bn to December 31 2006, according to results released by the company today.
The group also reported pre-tax profits of £431m, an increase of £108m over 2005.
The total contribution from new business increased by 16% to £36m, while embedded value increased by 25% to £2bn at 31 December 2006, a record figure for the group.
Mike Yardley, group chief executive at Royal London, conceded that pensions’ business volumes and market share may fall, given the pricing strategies still being followed by some providers, especially in the group pensions market.
However, Royal London would not adopt similar pricing practices since they were designed to suit short-term purposes, he said.