The 2012 total PVNBP for the Isle of Man-based RL360° was £364m, according to Royal London Group’s full year results.
The parent company said its gross inflows in 2013 totalled £3.9bn, helped by record inflows into its asset management arm’s funds.
One figure that was not given was what the Royal London Group received when it agreed to part with the RL360° operation and its subsidiaries last November, in a management-led backed by Vitruvian Partners, an independent private equity firm.
As reported, the deal, which was announced on 14 November, was understood to have been in the works since the beginning of 2013, as the executive management team of RL360° sought to be free to fulfil its ambitions of expanding into new international markets.
According to the newly-independent company’s website, it currently employs some 200 people, and looks after some £2.2bn in assets on behalf of its clients. Its headquarters remain in RL360 House (formerly Royal London House) in Douglas on the Isle of Man, with a regional office in Hong Kong and representative offices in Dubai and Lebanon.
RL360°'s former parent, the Royal London Group, is a mutual organisation and as such, its shares are not listed on a stock exchange, nor does it have any equity shareholders. This means its profits are distributed among its members or reinvested.
RL360° was established in 2009 through the merger of Scottish Life International and Scottish Provident International. It offers a broad range of offshore investment, savings and tax planning products to investors based around the world.
