{"id":530317,"date":"2026-04-14T13:14:10","date_gmt":"2026-04-14T13:14:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/530317\/"},"modified":"2026-04-14T13:14:10","modified_gmt":"2026-04-14T13:14:10","slug":"irish-arm-of-royal-london-more-than-doubles-sales-of-pension-products-amid-prsa-boom-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/530317\/","title":{"rendered":"Irish arm of Royal London more than doubles sales of pension products amid PRSA boom \u2013 The Irish Times"},"content":{"rendered":"

The Irish arm of Britain\u2019s largest mutual life and pensions group, Royal London<\/a>, reported a 64 per cent jump in new business last year, largely driven by sales of its pension<\/a> products, which more than doubled after it began offering personal retirement savings accounts<\/a> (PRSAs).<\/p>\n

In its recently published annual report, the group said operating profits at its Irish unit grew by 71 per cent to \u00a317 million (\u20ac19.5 million) in 2025. <\/p>\n

New business sales in the Republic climbed by 64 per cent to \u00a3281 million, from \u00a3209 million in the previous year. The growth was led by its Irish pensions division, which more than doubled sales from \u00a3109 million in 2024 to \u00a3286 million. <\/p>\n

Royal London said the sharp rise in sales reflected its first full year selling PRSAs to the Irish market after launching the product category in late 2024. The group said its regular premium PRSA was \u201calready our most popular product\u201d in the market. <\/p>\n

Royal London was the first big life and pensions firm to enter the PRSA market in around a decade. <\/p>\n

PRSAs were established in 2002 as a type of flexible, long-term personal pension plan. The value of PRSA assets in the Republic climbed from \u20ac7.2 billion in 2019 to \u20ac18.3 billion in 2024 and reached \u20ac21.5 billion at the end of last September. The boom has been driven by Government and Pensions Authority<\/a> efforts to encourage business owners to move away from single-member executive pension schemes.<\/p>\n

Separately, Royal London said its sales of insurance products in Ireland increased by more than 7 per cent last year to \u00a3202 million. In 2025, Royal London Ireland paid out 99 per cent of claims, with a total value of \u00a350 million.<\/p>\n

Noel Freeley, chief executive of Royal London Ireland, said 2025 was \u201canother successful year\u201d for the firm, reflecting \u201cthe quality of our products and service across life and pensions\u201d. <\/p>\n

\u201cLooking ahead in 2026, we remain dedicated to delivering the best service for customers and brokers and advocating the benefits of impartial financial advice,\u201d he said.<\/p>\n

The Irish subsidiary of British mutual Royal London launched its first personal retirement bonds and approved retirement funds, which allow individuals to manage their own pensions, in September 2022.<\/p>\n

The Royal London Mutual Insurance Society Ltd is Britain\u2019s biggest mutual life, pensions and investment company.<\/p>\n

Royal London Ireland\u2019s company heritage goes back almost 200 years to the Caledonian Insurance Company\u2019s first office opening on Dublin\u2019s Dame Street in 1824. It is now based on St Stephen\u2019s Green.<\/p>\n","protected":false},"excerpt":{"rendered":"The Irish arm of Britain\u2019s largest mutual life and pensions group, Royal London, reported a 64 per cent…\n","protected":false},"author":2,"featured_media":530318,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,7157,4176,5107,112335,4174,4175,183668,45729,56,54,55],"class_list":{"0":"post-530317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dublin","10":"tag-finance","11":"tag-pension","12":"tag-pensions-authority","13":"tag-personal-finance","14":"tag-personalfinance","15":"tag-prsa-personal-retirement-savings-account","16":"tag-royal-london","17":"tag-uk","18":"tag-united-kingdom","19":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/530317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=530317"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/530317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/530318"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=530317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=530317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=530317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}