The figures are on a Present Value of New Business Premiums (PVNBP) basis, calculated as new single premiums plus the expected present value of new regular premiums.
This results in a figure of £107m in new business of the year to the end of March.
Commenting, Ross Ainslie, managing director of Bright Grey and Scottish Provident, said:
“Throughout last year the businesses went through a significant overhaul to enable us to compete in difficult trading circumstances and challenge the established players in the market.
“As well as enhancing the products across Bright Grey and Scottish Provident, we amalgamated the sales forces and carried out six months of concerted marketing and sales engagement to help advisers develop and strengthen their business.
“This sustained activity meant that we saw a very strong finish to the year, which I’m delighted to say we’ve continued into 2012.”
The two brands marketing and sales activity is to focus on potential generated from the introduction of RDR, the gender directive and I-E for the rest of the year.
