Mutually-owned Royal London, the life insurance, pensions and investment company, said its assets under management reached a record £212.5 billion over the six months to June 30, up £13.3 billion since December 31, 2025.

The rise was driven by £1.8 billionn of net inflows into Royal London Asset Management’s cash strategies and the group’s Workplace Pensions business, together with positive market movements of £11.5 billion.

The Royal London group employs more than 1,000 in Scotland and includes the former Scottish Life and Scottish Provident businesses.

Royal London said group adjusted operating profit increased 13% to £187 million “supported by higher contributions from our Protection and Workplace Pensions propositions and the Asset Management business.”

Royal London group CEO Barry O’Dwyer said: “As a customer-owned business, when we do well, our customers share in that success. In April, we distributed £199m to 2.4 million eligible customers, including new ISA customers, taking the total we’ve shared since 2007 to over £2bn – a clear demonstration of the value that mutuality can deliver.

“Our Workplace Pensions business continued to grow in the first half of 2026, as more customers chose to bring their pensions together with Royal London. We also launched our Targeted Support ISA service, making it easier for people to access the recommendations they need when making savings decisions.

“Our ongoing focus on delivering long-term value for customers helped to deliver a 13% increase in operating profit, allowing us to continue investing in enhancing services for their benefit. Built on our strong relationships with advisers and employers, our strategy positions us well to deliver for customers now and into the future.”