![\"Barry](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2025\/08\/Barry-ODwyer-Royal-London-vid.png\")
Customers of life and pensions firm Royal London will share \u00a3199 million after its annual earnings jumped by nearly a fifth.<\/p>\n
However, chief executive Barry O\u2019Dwyer will retain his status as one of the highest-paid bosses in the mutual sector after receiving a 53% pay rise to \u00a33.92 million last year.<\/p>\n
The mutual said growth across pensions, protection and bulk purchase annuities pushed operating profits 18% higher to \u00a3327 million. New business sales rose 13% to \u00a312.2 billion. <\/p>\n
Royal London, which is investing in its Scottish headquarters in Edinburgh\u2019s St Andrew Square, will make the payouts into its 2.4 million customers\u2019 pensions and stocks and shares ISAs on 1 April. <\/p>\n
It will bring the total paid under the profit share scheme to more than \u00a32 billion since 2007. The profit share payout is a 10% rise on the \u00a3181m paid out last year.<\/p>\n
Barry O\u2019Dwyer, group chief executive, said: \u201cWe\u2019re owned by our customers and, when we do well, they share in our success.<\/p>\n
\u201cIn April, we will share \u00a3199 million with eligible customers through ProfitShare, bringing the total shared since 2007 to over \u00a32 billion \u2013 a tangible demonstration of mutuality in action.\u201d<\/p>\n
The group said its workplace pensions business was its \u201clargest source of new customers\u201d, with 230,000 policyholders taken on in 2025, taking the total to 2.2 million.<\/p>\n
Last September it also launched its new stocks and shares ISA, which also qualifies for profit share payouts.<\/p>\n
\t <\/div>\n