March 29, 2018 / 6:13 AM / 5 months ago

Royal London posts 17 pct rise in full-year operating profit

LONDON, March 29 (Reuters) - Royal London, the UK’s largest mutual life insurance and pensions company, on Thursday posted a 17 percent rise in full-year operating profit, driven by a increase in new business across its insurance and savings businesses.

The company said operating profit before tax on a European Embedded Value basis, a key measure of performance, was 329 million pounds ($463.46 million), up from 282 million pounds in 2016. ($1 = 0.7099 pounds) (Reporting by Simon Jessop. Editing by Clara Denina)

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