The basic results fell by £192 million from £249 million in the first half of 2024 after the six months ended at the end of June 2025.
Pension and lifelong mortgage experts say the profit drop is due to lower profit margins for new businesses that are offset by higher repeat business internal profits.
Retirement revenue sales during the period were £2.2 billion – starting from £200 million in the six months of 2024.
Commenting on the latest data group CEO David Richardson, David Richardson, said: “I am happy with the performance of the first six months of 2025, especially given the quieter level of the welfare (DB) market defined at the beginning of the year, we can offer us multiple opportunities, so the second half of the year has been providing the group with six months of sales.”
“We remain disciplined, continue to execute strong execution and are investing in our business to support our future growth. We lay the foundation for all our infrastructure to build the substantial progress we provide. We operate in fundamentally attractive markets and are confident in our consistent compound value.”
On July 31, 2025, the company announced a recommended cash offer from Brookfield Wealth Solutions.
