Royal London CEO: Consumer Duty to fuel protection growth

Speaking after acquisition of Aegon UK individual protection book

Jenna Brown
clock • 3 min read

Consumer Duty could result in protection market growth as advisers look to prevent foreseeable harm to clients and offer a greater variety of solutions, Royal London chief executive (CEO) Barry O’Dwyer has said.

Speaking after Royal London bought Aegon UK's individual protection book today (4 April), O'Dwyer said the income Consumer Duty rules would likely spur growth in advised protection sales. Speaking to PA, he said: "We would like to see the protection market grow much more than it has done. It hasn't grown to the extent that it ought to. There are lots of reasons for that, but I would like to see that market grow, particularly through advisers. "Maybe with the onset of Consumer Duty makes it more likely that protection business will grow in the future. It is very clearly a 'foreseeable ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Chesnara to close HSBC Life UK to new protection business

Chesnara to close HSBC Life UK to new protection business

Follows £260m acquisition

Jaskeet Briah
clock 04 February 2026 • 3 min read
Targeted support: FCA opens door to protection inclusion

Targeted support: FCA opens door to protection inclusion

Could help address protection gap

Cameron Roberts
clock 29 January 2026 • 2 min read
FCA Pure Protection Market Study: No interventionist remedies proposed

FCA Pure Protection Market Study: No interventionist remedies proposed

The regulator pledged to release its final report in Q3 2026

Cameron Roberts
clock 29 January 2026 • 4 min read