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How our business works

Our business is built on understanding people, how long they live, what risks they are comfortable with and their changing needs throughout life. We aim to see things before others do and create far-sighted approaches to better manage our assets and meet our customers’ needs.

Our skills and experience give us the ability to build scale in fund assets

Attracting funds

We attract funds from a wide range of institutions and individuals, not only in the UK but also in the US. We’re a top 20 global player by assets under management.


Helping pension schemes, their members and retired people is a crucial part of our business. We manage mandates from institutions and pension schemes and provide pension buy-ins, buyouts and individual pension plans.

Insurance premiums

We're the UK’s No 1 life insurer. Our mortgage club is the UK’s largest stand-alone distributor of mortgage products and we’re one of the biggest UK providers of lifetime mortgages.

Retail asset management

Our UK retail fund investment business has become a top five business for net sales, giving retail investors access to our renowned index, multi asset and fixed-interest funds.

We have broad capabilities

Pensions risk transfer

We offer DB pension schemes investment solutions at every stage of their scheme’s life cycle.

Securing payments to employees with bulk annuities

Our buy-in, buyout and longevity insurance solutions mean that we can assume some, or all, of a firm’s liability for paying pensions. Our annuity portfolio is now £54.4 billion strong.

Moving to defined contribution

DC pensions are the future in the US as well as the UK. We have two million DC customers across 9,500 schemes in the UK and a rapidly growing US DC business.

Managing mortality and longevity risk

Our longevity science and mortality teams have built up unparalleled expertise in modelling risk.

All figures correct to 31.12.16

We’re commited to being
responsible and economically useful

A real commitment

Our commitment to being responsible is embedded into our business in everything we do. From our investments which create a better society, to our community work and our good-value products which are designed to give people independence and financial security.

Active ownership

We aim to improve the performance of the companies we invest in through responsible board behaviour and commitment to good environmental, social and governance practices.

Real assets

We create real assets that generate better investment returns for our long-term money and help build towns, businesses, jobs and communities through urban regeneration.