L&G Lifts H1 Protection Sales 22% to £168 Million as Margin Rises to 10.9%

1 articles · Updated · Health & Protection · Aug 5

£168 million of new protection sales in H1 2026 marked a 22% rise from £138 million a year earlier, with growth driven by higher completions and stronger performance across both retail and group business.
The new business margin widened 2.9 percentage points to 10.9%, while group protection led expansion with premiums up 32.7% to £81 million and retail protection rising 12.9% to £87 million.
£1.19 billion of protection gross written premiums were up 2.6% overall, even as L&G said it was still working through issues with its group critical illness product and engaging with the FCA's protection market study.
A £1.4 billion gain from the completed $2.6 billion sale of its US protection and pension risk transfer businesses lifted group pretax profit to £1.997 billion from £406 million, while retail pretax profit rose 5% to £248 million.
L&G also reported core operating profit up 7% to £918 million, a 2% interim dividend increase, and about £450 million completed under its £1.2 billion buyback as CEO António Simões pushed a 'simpler, more focused' strategy.