Annual Reports

How we're doing

Want a peek behind the scenes at Royal London? View our recent Annual Reports to learn more about our financial performance, employee engagement, customer service and more.

Commenting on Royal London’s 2020 financial results, Barry O’Dwyer, Group Chief Executive, said:

Our asset management business successfully navigated volatile financial markets in 2020. Assets under management increased to £148bn and we saw strong inflows into our sustainable funds. Pensions new business sales reduced, primarily due to individuals delaying the decision to consolidate their investments and fewer people moving employer during these uncertain times.

Intermediated Protection performed strongly as a result of enhancements to our product proposition and maintaining excellent customer service. We have paid £13.1m in Protection claims to families of more than 2,100 customers who sadly died from Covid-19.

As a mutual we are able to take a long-term approach despite short-term uncertainties. Our robust capital position has allowed us to continue our investment in systems and service to benefit our customers. Eligible customers will also benefit from a ProfitShare of £146m, a unique feature of mutuality which enhances the value of their savings.

For more information read our Annual Report 2020 press release: Strong flows into sustainable funds drives growth in assets under management.

Commenting on Royal London’s 2019 financial results, Barry O’Dwyer, Group Chief Executive, said:

Royal London had a successful 2019 despite last year’s political and economic uncertainty. Our investment performance has been outstanding with 98% of active funds outperforming their three-year benchmark. Together with our reputation for excellent customer service, this has helped to attract more new business and we have seen another year of extremely strong net inflows. Life and pension sales are lower than the record highs seen in recent years but our operating profit remains robust.

For more information read our Annual Report 2019 press release: Robust trading in an uncertain environment.

Commenting on Royal London’s 2018 financial results, Phil Loney, Group Chief Executive, said:

It has been a record year for Royal London with EEV operating profit before tax reaching an all-time high of £396m.  This success has been shared with our members who will receive a ProfitShare of £150m for 2018, taking our total ProfitShare distribution to £942m since 2007.  Adding investment growth to that has allowed us to contribute over £1bn to our members’ policies since 2007, a real demonstration of the added value of mutuality. When we do well, so do our members.

You can discover more about our "Strong Performance" after a foreword from Phil Loney, Group Chief Executive.

For Royal London, 2017 was a year of record new business and profitability. By offering our customers well-designed, value-for-money products and excellent service, we generated sales for life and pensions new business of £12bn, on a present value of new business premiums (PVNBP) basis. That in turn enabled us to deliver a 17% rise in EEV operating profit before tax to £329m, a record for the Group...

Five years ago, we implemented our strategy with the aim of differentiating ourselves by offering customers some of the best products in the market at competitive prices, delivered with excellent service. Our progress has been remarkable...

After a foreword from Phil Loney, Group Chief Executive, you can read all about how we 'hit all the right notes' in our Annual Report below.

We made excellent progress at Royal London in 2016, performing well despite the backdrop of a turbulent year in politics and markets.

Your business enters 2017 with stronger products, better service, a more visible brand and enhanced market positions. Royal London has built pleasing growth momentum through our strategy of offering high-quality products and services at competitive prices. The wider political and economic situation remains very uncertain but we are confident that our strategy will enable us to continue to grow and develop your business in a manner that benefits our members and customers, and indeed all of our stakeholders.