Regular premium (RP) sales shot up by 67% last year to £236m ($338.8m, €299.5m) from £141m in 2014.
Single premium (SP) sales were also higher, though rose by a more modest 6% to £479m.
Total sales, in terms of the present value of new business premiums (PVNBP), hit £715m last year up from £591m in 2014.
PVNBP is calculated as total single premium sales received in the year plus the discounted value, at point of sale, of regular premiums expected to be received over the term of new contracts.
RL360° also said new business results were particularly strong in Asia, Latin America and the Middle East.
Busy year
“Once again it has been a busy and successful year for RL360°,” said chief executive David Kneeshaw.
“Our 2015 RP performance is reason to celebrate and the increase in SP sales in a very competitive market is equally pleasing,” he said.
Late last year the RL360° Group completed the acquisition of CMI Insurance Company (CMI) from Lloyds Banking Group, renamed it the RL360° Life Insurance Company and now operates it under the brand name RL360° Services.
“The acquisition of CMI and subsequent rebrand to RL360° Services has made us stronger, increasing our book of business and allowing us to integrate an experienced workforce to help support continued growth,” Kneeshaw said.
Online focus
“Our sights are now set firmly on pushing forward with new developments, such as our online applications, and on ensuring we continue to provide the best service and standards for our supporting advisers and their policyholders,” he added.
Last week the company announced the launch of a new desktop online application system for financial advisers selling its regular premium product, Quantum.
As at 1 December 2015, the RL360° Group had $10bn in assets under management, around 60,000 policies and 300 staff with clients in Asia, Africa, the Middle East, Latin America and the UK, served from offices in Hong Kong, Lebanon and Dubai.
