Scottish friendly provides such 'partners' with life and critical illness cover which are marketed and sold on a white label basis.
Scottish Friendly saw protection sales rise by 54% in 2016 which it attributed to partnerships with Beagle Street, Sun Life, Smart Insurance and British Seniors Insurance Agency.
Scottish friendly provides such 'partners' with life and critical illness cover which are marketed and sold on a white label basis.
The mutual made £33.9m in 2016, 33% more than £25.5m in 2016.
Jim Galbraith, chief executive of Scottish Friendly, said: “2016 has been another fantastic year for Scottish Friendly, demonstrating the progress that a well-run mutual can make.
“Our strong sales have largely been led by white label outsourcing to key business partners and this is likely to continue as a growth area for us.”
He added: “Whilst Brexit has resulted in considerable volatility it has, of late, resulted in a strong surge in the UK stock market which has been great news for investors.
“Nonetheless, there is considerable uncertainty ahead as we approach notification of Article 50 and the US adjusts to a new presidency.
“While we are cautious about the prospects for 2017, we will carry on seeking out opportunities that will benefit our members and our partners and continue offering quality products and services.”
