Bright Grey and Scot Prov sales continue slide

The pair or protection providers, who are both part of the Royal London group, posted a joint fall of 19% in new business during the nine months to the end of September. Previously the businesses had been reported individually, but over this time period they show combined present value of new business premiums (PVNBP) of £251m, down from £310m at the same point in 2009. The results maintain a trend set earlier in the year and illustrate the present difficulties of the protection market. Royal London put the decrease down to the still slow mortgage market and suggested that market c...