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Royal London finalising preparations to enter bulk annuity market

Written by Adam Cadle
02/08/2024

Royal London is finalising preparations to enter the bulk annuity market within months.

Reporting an H1 group operating profit of £144m, up 13% from £127m in the same period last year, the mutual said it has continued to build its bulk annuity capabilities, and remains “on track to enter the wider market in the second half of the year” after completing two initial in-house transactions.

In March, Royal London announced it had insured all benefits for the Royal Liver Assurance Limited Superannuation Fund, a scheme it acquired in 2011 when the company bought Royal Liver Assurance. The group also insured around 20% of its own DB scheme, the Royal London Group Pension Scheme.


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