Royal London’s interim report said growth was driven by “enhancements to our income protection offering and continued momentum in high-net-worth business.”
The insurer said it reaped benefits from enhancements to its Personal Menu Plan proposition, which allows customers to combine different protection benefits under a single plan.
Furthermore, it saw “continued strong demand for ‘whole-of-life’ term products reflecting heightened customer focus on estate planning and wealth transfer”, which resulted in “a favourable product mix.”
Subsequently, the new business margin increased to 10.3%, up from 6.7% in H1 2025 and 8.7% in the second half of 2025. This drove a significant increase in new business contribution to £50m, compared with £30m in the prior-year period.
Protection operating profit also rose by 6% year-on-year to £145m, up from £137m in H1 2025.
The business demonstrated robust customer outcomes, having paid 98% of protection claims during the first half of 2026. In total, £392m was paid to more than 29,000 UK customers and their families.
