Royal London: Aegon acquisition leads to untapped adviser market

Royal London CEO Barry O’Dwyer says acquisition helped expand market share

Sahar Nazir
clock • 1 min read

Royal London’s acquisition of Aegon's UK closed individual protection book has allowed it to build relationships with advisers who had not previously worked with the provider, according to CEO Barry O’Dwyer.

In a bid to strengthen its advisory network, Royal London acquired Aegon's UK closed individual protection book in April last year. Speaking to Professional Adviser, O'Dwyer said the acquisition has been a success story for Royal London and expanded its market share. "It's been a natural fit with our existing portfolio," he noted. O'Dwyer comments came after Royal London released its financial statements for the six months ending 30 June, which showed operating profit before tax rising 13% year on year to £144m. The company has faced challenges, notably the departure of key members...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

Sahar Nazir
Author spotlight

Sahar Nazir

News Editor at Professional Adviser

More on Your profession

PFS CEO on a Formula racing-like representation problem

PFS CEO on a Formula racing-like representation problem

Does financial planning need its own F1 Academy?

Jen Frost
clock 05 September 2024 • 2 min read
Octopus Investments CEO: 'The industry remains untrustworthy'

Octopus Investments CEO: 'The industry remains untrustworthy'

Advice ‘needs to move away from un-relatable investment products’

Isabel Baxter
clock 05 September 2024 • 4 min read
Sussex-based IFA enters administration

Sussex-based IFA enters administration

Facet declared in default as Voscap are appointed as administrators

Sahar Nazir
clock 04 September 2024 • 1 min read