The Royal London Mutual Insurance Society Ltd Company Profile - Overview (2024)

FAQs

The Royal London Mutual Insurance Society Ltd Company Profile - Overview? ›

The Royal London Mutual Insurance Society Ltd (Royal London) is a mutual life insurance, pensions, and investment company. It offers term life insurance, critical illness insurance, funeral plans, workplace pensions, income protection insurance, and business insurance through independent financial advisers.

Welcome to Royal London

We're the UK's largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services. As a proud, modern mutual we're able to take a longer-term view.

When we first opened our doors in 1861, we wanted to help people to help themselves. And it's been our way of thinking ever since. As a mutual, we're owned by our customers.

Founded in 1861 in a London coffee shop, Royal London began as a friendly society, evolving into a purpose-driven modern mutual today. Our Committee of Management, including our founders, out and about in the 1860s.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Royal London is easy to do business with

We were awarded 5 stars at the Financial Adviser Service Awards 2023 for our pension service for the 15th year running and 5 stars for our protection service for the 10th year running, so you can recommend us to your clients with confidence.

About Royal London

Royal London is the largest mutual life, pensions and investment company in the UK, and in the top 25 mutuals globally, with assets under management of £162 billion, 8.6 million policies in force and over 4,200 employees. Figures quoted are as at 31 December 2023.

In December 2000, Royal London Group acquired United Assurance Group PLC which had previously been formed by the merger of United Friendly and Refuge Assurance in October 1996.

This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve. Our inclusive values and people promise are core to who we are and how we work.

What does Royal London cover? ›

Our Serious Illness Benefit is designed to protect you, your family and your lifestyle if you've been diagnosed with one of our six defined conditions, and survive 30 days after your diagnosis. These conditions are cancer, heart attack, stroke, multiple sclerosis, dementia and benign brain tumour.

Our fund range

Select from our range of over 180 funds managed by other investment managers, including sustainable and ethical options.

Our mutuality

We're proud to say we have over 2 million members.

Royal London is the largest mutual life, pensions and investment company in the UK, while also providing protection products in Ireland.

We'll tell you the name of the person handling your claim and they'll stay with you throughout the process. As soon as we have all the information we've asked for and your claim's been accepted, we make the payment, and funds usually clear in 3-5 working days.

If you do not know the name of your original plan provider, please call us on 0345 602 1885.

We offer a full range of local and specialist services, including one of the largest children's hospitals in the UK, and we are one of the capital's leading trauma and emergency care centres. We also specialise in stroke and renal care, with one of the largest hyper-acute stroke centres in the country.

You can take the money built up in your pension savings as cash from the age of 55 (increasing to age 57 from April 2028). The first 25% of each cash payment will usually be paid tax free, while the rest will be taxed as income. If you're planning to take a cash lump sum, there's lots to think about.

Royal London Asset Management is part of the UK's largest mutually owned pension and investment company. We help a wide range of clients across the globe achieve their investment goals, with a commitment to managing our clients' assets in the right way.