Bright Grey future 'secure' despite merger fears

Royal London head of intermediary business, John Deane, says Bright Grey and Scottish Provident will run side by side despite the fact both operate mainly open-book protection business. As part of the forthcoming Pearl/Resolution deal, it was agreed Scottish Provident would be purchased by Royal London. Pearl and Resolution operate closed-book business so offloading Scottish Provident – mainly open-book – was expected. However, as Bright Grey also operates open-book business, some industry commentators have questioned whether Royal London would merge Scottish Provident with Bright Grey. ...