IN THE NEWS
RL360° records 24% new business growth in 2013 RL360° recorded an exceptional 24% growth in new business (PVNBP*) last year. Year end results show £451m was written across the life assurance company’s single and regular premium products. There was 33% growth in single premium new business, with £332m written in 2013, up from 2012’s £250m. And the figures show £119m of new regular premium (“RP”) business was written during 2013, up from £112m in 2012.
Counting House announces Lottery Messenger Forum in Israel Global payment solutions consultancy Counting House has confirmed details of its Global Lottery Messenger Forum in Tel Aviv, Israel; the first ever worldwide forum for the industry, and the first major event of its kind for the Isle of Man in a nation of growing international renown for eCommerce. Due to take place on 20th May 2014, the free one day event will be attended by representatives of the Isle of Man Department of Economic Development and Gambling Supervision Commission, banking and hosting sectors and leading CSPs. The keynote welcoming speech will be given by Leonard Singer, MHK, political representative for the e-Gaming sector. Speakers and delegates will tackle topics as diverse as the legal and regulatory issues surrounding lottery messenger services, the business case for jackpot insurance, alternative approaches such as betting on lotteries, banking and hosting facilities for lottery messenger, and payment processing. Counting House is delighted with the planned attendance of island resident Gloria Evans, CEO of the European Lottery Guild, who will chair an open discussion on fighting lottery fraud and the launch of the Global Lottery Messenger Association. Networking opportunities at the venue bar will conclude what will no doubt prove to be crucial event for the Isle of Man in Tel Aviv, one that builds upon past successes in 2013 following the “Creative eGaming, Binary Options & Ecommerce Solutions: Israel and Isle of Man” conference, which took place in December. Over 70 Israeli business persons were in attendance, which resulted in several local leads for banking on the Isle of Man, as well as engagement opportunities with a number of high net worth individuals and an Isle of Man licence application from binary options industry giant Tradologic. Commenting on the forthcoming forum, Paul Davis, CEO of Counting House stated: “The Isle of Man clearly has a proactive approach to business development and the pursuit of inward investment, pursued on several fronts and in several geographies.” The Global Lottery Messenger Forum will take place at the Hilton Tel Aviv, Tel Aviv, Israel on Tuesday 20th May 2014. Registration begins at 8:45am for a 9:30am start, with the day’s proceedings closing at 4:15pm. Attendance is free but by invitation only.
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The largest share of RL360°’s RP business came from the Far East, followed by the Middle East. The latter part of 2013 saw huge change for RL360° with a management-led buyout, backed by private equity firm Vitruvian Partners, going through in mid-November. The move saw Royal London 360° break away from the Royal London Group and re-brand as RL360°. It has allowed the company to expand into new markets in early 2014, such as Latin America. Independent actuaries AKG eyed the buyout positively, referring to RL360° as “a financially strong standalone operation with very strong operational characteristics and positive development potential”. AKG also made reference to the fact that notable in the change in RL360°’s ownership has been the retention of existing senior management, led by Chief Executive David Kneeshaw, all of whom have significant experience within the operation. Director of Marketing Natalie Hall said: “2013 was a fantastic year for RL360° on so many levels. It was pleasing to achieve excellent new business growth in all key regions during the year. Becoming a part-owner in the business in November was a privilege, and a move that has been supported and viewed really positively by our distributors and partners. The entire management team is excited about shaping our future plans, whilst making sure we maintain our focus on listening to customers and adapting our products and technology to enhance their overall experience of working with RL360°. It is crucial that what makes RL360° special stays intact.”