Scotland business

Scottish Friendly reports strong growth

Scottish Friendly chief executive Fiona McBain Image copyright Scottish Friendly
Image caption Chief executive Fiona McBain called it "a remarkable year" for the group

Financial services group Scottish Friendly is closing in on £1bn in funds under management.

The Glasgow-based mutual said its funds under management climbed by 10% last year to £997m.

Scottish Friendly also reported a 135% increase in core life and pension sales to £20m for 2013.

Strong growth in sales from new partnerships with BGL and Smart Insurance - announced in 2012 - helped to more than double core sales.

Chief executive Fiona McBain said: "Scottish Friendly's excellent growth figures for 2013 capped a remarkable year for the group, a key highlight of which was receiving the Financial Services Company of the Year Award at the 2013 Scottish Business Awards."

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