It’s been another strong year for Royal London
As a mutual business, we’re determined to deliver the best possible value and outcomes for our customers and members – it’s at the heart of what we do – and we’re pleased to see from our 2019 financial results that this strategy’s working.
“Royal London had a successful 2019, despite last year’s political and economic uncertainty,” said Group Chief Executive Barry O’Dwyer. “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.”
Our financial results
Royal London reached an EEV operating profit before tax of £416m in 2019, an increase of 5% compared to 2018. And, as usual, our profits are shared with our 1.6 million members, who’ll get a ProfitShare of £140m for 2019.
- EEV operating profit before tax: £416m (2018: £396m)
- ProfitShare after tax: £140m (2018: £150m)
- Funds under management: £139bn (2018: £114bn)
Our current situation
“Coronavirus represents a new risk for the world economy and therefore for our business,” said Barry. “Our current priority is the health and wellbeing of our colleagues so that we can continue to deliver for customers and clients. Our robust capital position means we do not expect the virus to have any material long-term impact on our business.”
Our Annual Report & Accounts 2019
Find out more about our financial performance, the way we work, and our commitment to having a positive social impact in our Annual Report & Accounts 2019.