Royal London has achieved a new record for assets under management (AUM), which climbed to £212bn. This figure is an increase from £199bn at the close of the previous financial year, attributed to positive market movements and investors' resilience.
The group's operating profit saw a 13 per cent increase, reaching £187m. This growth was supported by higher contributions from its protection and workplace pension offerings, alongside asset management.
Pension new business sales rose by five per cent to £4.7bn, largely driven by its workplace pension channel. This segment recorded a 13 per cent increase in sales to £2.4bn, supported by higher transfer volumes and new market entrants, which added 112,000 customers, bringing the total to 2.3m.
Workplace AUM increased by 15 per cent to £43.6bn. Protection sales also saw a six per cent rise to £438m, as customers reportedly addressed their pensions ahead of changes to the system in April 2027, when pensions will become subject to inheritance tax (IHT).