Royal London records 14% rise in new protection business

For protection, present value of new business premiums (PVNBP) increased to £455 million from £399m in the same period the year prior, supported by a "buoyant" protection market, according to Royal London. The provider said this was driven by continued success in the mortgage-related market and more cases within the high net-worth market, where it has expanded its proposition to support estate planning needs. The expansion included the launch of Royal London's joint life second death cover option in December 2024, with the aim of mitigating inheritance tax (IHT) liabilities and aiding...