Leading Mutual Insurer Continues to Expand

Royal London, established in 1861, stands as the UK’s largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.

The company has demonstrated impressive growth, managing assets worth £181 billion and serving 8.6 million policyholders, while employing over 4,800 people, according to figures from June 2025.

Significant Achievements and Market Expansion

A notable achievement in 2025 has been Royal London’s expansion in the Bulk Purchase Annuity (BPA) business, reaching a significant milestone of £1 billion in liabilities insured. This includes an £85 million buy-in completed with The College of Law Pension and Assurance Scheme in March 2025.

The company’s excellence in service delivery is evidenced by its recognition as the most frequently nominated preferred pension provider in the Defaqto Pension Service Review from 2019 to 2024, maintaining this position into 2025.

Leadership Changes and Future Direction

In a significant leadership transition, Royal London announced changes to its Board structure, with Tim Tookey stepping down as Chair of the Audit Committee after the Annual General Meeting on 3 June 2025. Gregor Stewart has joined as a new non-executive director and will assume the role of Chair of the Audit Committee, pending regulatory approval.

As a modern mutual company, Royal London maintains its commitment to taking a long-term view, focusing on delivering positive, enduring change for its members and customers while working to protect living standards for current and future generations.

Market Position and Future Outlook

As the only customer-owned mutual insurance company in the BPA market, Royal London has shown positive momentum since entering this market segment in September 2024. The company continues to offer a comprehensive range of pension products tailored to various needs, available through financial advisers or employers.