BRIGHT Grey and Scottish Provident, the protection insurance businesses of Royal London Group, are continuing to benefit from the Gender Directive, new legislation that bars insurers from considering gender when calculating premium prices.
The Edinburgh-based providers, which sell products ranging from life to critical illness cover, announced a 23% increase in new business for the 12 months to December 31, amid a "flurry of bookings" taken in December as the deadline for the new rule approached. The rise valued new business premiums (PVNBP) across both companies at £482 million for the year, up from £393m in 2011.
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