Friday 17th May 2019,
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New figures show impressive growth for RL360°

New figures show impressive growth for RL360°

RL360° has announced it recorded high levels of growth last year. In a statement, the Isle of Man-based company revealed it achieved growth of 21% in new business over the course of 2015, with the present value of new business premiums reaching £715 million.

According to the savings and investment specialist, this was primarily due to impressive performance in its regular premium business. The company noted that this rose by 67% from £141 million the previous year to £236 million in 2015. Strong growth was also recorded for its single premium sales, which went up from £450 million in 2014 to £479 million last year, representing a rise of 6%.

New business results for RL360° were particularly robust in the Middle East, Latin America and Asia.

CMI acquisition

Last year saw the RL360° Group complete its acquisition of CMI Insurance Company Limited. The deal was finalised on 1 December 2015 and it created a combined group with approximately £4 billion in assets under management, 60,000 policies and 300 members of staff. As part of the move, CMI was renamed RL360 Life Insurance Company Limited and it operates under the brand name RL360° Services.

‘Reason to celebrate’

Responding to the growth figures, Chief Executive at RL360° David Kneeshaw said the performance in both regular premium business and single premium sales is “reason to celebrate”. He added that 2015 was a “busy and successful” year and pointed out that it continues the company’s record of achieving year-on-year growth.

Mr David Kneeshaw went on to remark: “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.”

He stated that RL360° is now focussing on driving new developments, including providing online applications, and on ensuring it continues to offer the best standards and service for its supporting advisers and policyholders.

RL360° offers a range of saving and investment products, including its flagship regular premium policy Quantum and its single premium Personal Investment Management Service. Because of its location on the Isle of Man, the company can offer international clients impressive scope for tax efficiency. You can find out more about the business and its products by visiting its website. Meanwhile, if you would like to gain further insights into what it has to offer, you can take a look at RL360° reviews online.

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