Closed funds
A fund is defined as ‘closed’ if no new policies are being sold. In the UK, there are around 70 closed life funds with a value of more than £190 billion, amounting to one fifth of the long-term insurance sector
Pearl Group has c 7.7 million UK policyholders*:
| Pearl Assurance: |
2,600,000 |
| NPI: |
595,000 |
| London Life: |
149,000 |
Former Resolution businesses
(Phoenix, Scottish Mutual, Scottish Provident) |
4,400,000 |
Our assets under management total c £73.1 billion:
| Pearl Assurance: |
£13.9 billion * |
| NPI: |
£10.2 billion * |
| London Life: |
£2.4 billion * |
Former Resolution businesses
(Phoenix, Scottish Mutual, Scottish Provident) |
£46.6 billion |
Additionally Ignis Asset Management manages £4.7 billion ** for third party investors.
(* As at December 31 2007, ** as at June 30, 2008)