Insurance company Royal London Ireland has today reported 29% growth in new business sales to €359m.
Royal London Ireland is owned by The Royal London Mutual Insurance Society Limited, the UK’s largest mutual life insurance, pensions and investment company.
Royal London Ireland’s CEO Noel Freeley said the company last year was recognised again for its service excellence and its overall proposition with numerous awards including, for the third consecutive year, the winner of the Overall Financial Services Excellence award from Brokers Ireland.
In November, the company launched a new regular premium Personal Retirement Savings Account (PRSA).
It said it believes the holistic product, fund, service and systems of its pensions proposition competes very strongly with traditional providers’ offerings.
“We know how crucial it is for customers to save into a pension to provide for their retirement and we are pleased to deliver further value and choice in the market to help build customers’ financial resilience,” it added.
Meanwhile, its parent company today said its “ProfitShare” scheme will distribute £181m to 2.3 million customers in April as business delivered an 11% increase in operating profit to £277m last year.
During the year it saw 966 new Workplace Pension schemes and 240,000 new scheme members, adding that Workplace Pensions new business sales were up by 19%, reflecting the increasing number of medium and large-sized employer scheme wins.
