Royal London has reported a 14% increase in new protection sales to £455m for the first half of this year, compared to £399m for the same period in 2024.
In its interim results today, the mutual said it paid 98.5% of protection claims in the six months to the end of June.
Payouts to 33,000 customers and their families totalled £415m for the first half, compared to £355m in the same period last year.
Overall, the life and pension provider’s operating profit before tax rose 15% year on year to £166m for the first half.
Group chief executive Barry O’Dwyer says: “For six years running, Royal London has been the most preferred personal pension provider by financial advisers, testament to the strength and quality of our customer propositions.
“When most of our competitors perform well, they reward their shareholders with higher dividends.
“Royal London is a mutual with no shareholders so when we perform well, our eligible customers benefit through ProfitShare.
“In April, we demonstrated the value of mutuality by sharing £181m with 2.3m customers through our ProfitShare scheme.”
