Isle of Man-based Royal London 360 has scored a B+ rating in a financial strength report produced by AKG Actuaries and Consultants Limited (AKG).

It's the first financial rating review to be undertaken for Royal London, the international brand that launched in January of this year through the coming together of Scottish Life International Insurance Company Limited and Scottish Provident International Life Assurance Limited.

The report says: "Royal London 360 appears well positioned in terms of its own capital position and strategic direction and equally importantly, as a key component within the group, with requisite commitment and visibility".

Head of Marketing Natalie Dutton says: "This is great news for Royal London 360, not only in the current financial climate, but also because historically both companies had only attained a B rating.

"The increase to B+ reflects the strength of our combined position, our solid parental support and how hard we have worked to provide superior products and services for our customers. It also sends a reassuring and positive independent endorsement to our business partners worldwide".

AKG assists IFAs by assessing the fundamental ability of a company to meet its long term commitments to policyholders.