Royal London locates over £14m worth of lost policies

36,000 customers reunited

Adam Saville
clock • 1 min read

Mutual spends more than £2m tracking down 'penny policies'

Royal London has reunited 36,000 customers with lost ‘penny policies' worth more than £14m in a bid to remind policyholders that their policy exists. The mutual insurer has spent in excess of £2m and worked with external tracing partners to help re-engage customers who have policies sold historically by door-to-door sales. Key policies include those from brands now owned by Royal London, including United Friendly, Refuge Assurance and Royal Liver. "Reuniting customers with money that is rightfully theirs is a priority for us," said John Glen, group operations director for Royal Lon...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Insurer

HSBC Life launches adviser support team

HSBC Life launches adviser support team

Reduction in average claim turnaround times

Jaskeet Briah
clock 26 June 2025 • 2 min read
The Exeter sees 20.9% increase in gross premium income

The Exeter sees 20.9% increase in gross premium income

2025 AGM

Cameron Roberts
clock 26 June 2025 • 1 min read
Chief change officer appointed at Shepherds Friendly

Chief change officer appointed at Shepherds Friendly

Michael Williams takes the role

Cameron Roberts
clock 25 June 2025 • 1 min read