Provider, Royal London, has reported a 17% increase in protection new business sales in 2025 compared to the previous year, driven by enhancements to its proposition and "increasing market share in a buoyant market".
Protection new business sales rose to £991 million in 2025 from £846m in 2024, with growth driven by momentum in mortgage-related and high-net-worth business. Notably, Royal London recorded increased demand for its Joint Life Second Death product, which was launched in late 2024, and its Whole‑of‑Life product last year. This demand was seen particularly among high‑net‑worth customers amid changes to inheritance tax (IHT) announced in the Autumn Budget in late 2024, which prompted Royal London to update its proposition to support estate planning needs. Royal London said this shift ...
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