Financial Soundness
A strong capital base
Solvency II regulations have been designed to help insurance businesses, such as Royal London Ireland, calculate their available capital (which is broadly assets minus liabilities), assess and manage their risks and ensure that they hold sufficient capital to take account of those risks.
Royal London Ireland is strongly capitalised, with a solvency ratio of 186% as of 31 December 2024.
This means we hold 1.86 times the regulatory capital required to meet all our obligations, including expected future claims.
Solvency and Financial Condition Report (SFCR)
As our 2023 Solvency and Financial Condition Report (SFCR) highlights:
"2024 was another successful year for Royal London Ireland, with new business premiums (measured by Annual Premium Equivalent) increasing by 31% compared to the previous year, driven by record protection sales and the continued growth in the popularity of our pension products, supplemented by the launch of a new Personal Retirement Savings Account proposition in November 2024. "
Financially strong and secure
We are committed to looking after the intrerests of our customers.
A ratings
Standard & Poor’s reaffirmed our parent company's A rating for financial strength and stability in October 2024, as did Moody's (A2) in August 2024. * Financially strong and secure
* Our parent company, The Royal London Mutual Insurance Society Ltd. received an A (Stable) Counterparty Credit Rating from Standard & Poor’s in October 2024 and an A2 (Stable) Insurance Financial Strength Rating from Moody’s in August 2024.