Royal London was founded in 1861 as a friendly society, becoming a mutual life insurance company in 1908, and growing to become the UK’s largest mutual life and pensions company. They continually strive to make the most of their founding principles of self-reliance, community and putting their members at the heart of everything they do.
Royal London offers a Governed range of funds which are low-cost, diversified portfolios, designed for those who want the facilities of drawdown, but without the extra headache of picking complex investments. They have 9 standard investment funds and 5 that specifically target income. Within the plans, they have various strategies available such as targeting cash, targeting an annuity purchase at a later date and targeting drawdown income.
They offer fund discounts which were adopted through the acquisition of Scottish Life. This rewards higher fund values by reducing the annual management charge on funds the more assets held within the plan.
- Total funds under management = £83.1billion
- With-profits fund value = £62.2 billion
- Bonuses added to with-profits policies = £285m
- New business generated in 2014= £4.8 billion
- Latest mutual dividend = £60 million
- Total pay out to members since 2007 = £406 million
- 5.3 million policy-holders
- Over half a million members