Operating profit reduced to £36m during first half of year despite protection sales increase
The mutual's 18% drop in new business sales overall can largely be attributed to reduced pensions volumes particularly in Q2, while the rise in intermediated protection sales (up 15%) was driven by a spike in customer interest, Royal London said. New protection business sales increased to £407m (compared to £354m in H1 2019) for the first half of this year. Royal London said initiatives such as premium deferral options and increased underwriting non-medical limits brought in during the crisis...
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