Scottish Friendly reports strong growth

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."