Canada Life UK has reported a 17% rise in total sales for the year ended 31 December 2025, with growth across its core retirement, wealth and protection businesses.
Total sales reached £5.2bn, driven by record activity in the International Wealth and Retirement divisions. Assets under management stood at more than £39bn at the year end.
International Wealth delivered 42% year-on-year sales growth, which the provider attributed to strong demand for international products and changes to the UK tax landscape.
Within Retirement, Individual Annuities recorded 17% growth as advisers and customers increasingly incorporated annuities into wealth planning strategies. The Home Finance business saw 50% growth, reflecting what the firm described as a growing market, underwriting capability and a disciplined approach to pricing.
Group Protection sales increased by 4% over the year, reinforcing Canada Life UK’s position in the corporate protection market.
Emma Watkins (pictured), chief executive of Canada Life UK, said: “2025 has been a year of significant strategic progress, underpinned by strong sales growth.
“Our success is founded on our well-established portfolio of businesses, with record sales in Retirement and International Wealth driving double-digit growth and reinforcing our position as a leading retirement, wealth and group protection provider.
“Our strategic investment in core capabilities, technology and product enhancements, and customer experience ensures we are exceptionally well positioned to seize the growth opportunities ahead.
“I am excited to lead Canada Life UK through this next phase of progress – confident in the strength of our business, the clarity of our strategy, the expertise of our teams, and our unwavering commitment to our customers.”
BULK PURCHASE ANNUITIES AND INVESTMENT
The provider also reported renewed momentum in its Bulk Purchase Annuities business during the second half of the year. Strategic investment and increased market activity resulted in £800m of deals completed in the fourth quarter of 2025.
Deal sizes in Q4 ranged from £40m to £330m, spanning multiple market segments. The firm said it had successfully onboarded its first schemes with deferred members, marking a milestone in its post-transaction capability.
CUSTOMER OUTCOMES AND COLLEAGUE INITIATIVES
Canada Life UK reported a net promoter score of +48, which it described as good. The Group Protection business paid £541m in claims during the year to more than 7,000 families.
The insurer enhanced its WeCare health and wellbeing service, extending access to 2.8m customers covered by a group protection policy.
It also launched online applications for International Bonds, reducing overall cycle times by up to 85%, and modernised its Discounted Gift Trusts to provide greater flexibility.
Enhancements were also delivered to the Fixed Term Income Plan, including the introduction of a guaranteed payment period and a 30-year maximum term.
On workforce initiatives, the business reported that 36% of senior leadership roles are now held by women, exceeding its Women in Finance Charter target.
It also introduced enhanced parental and family-friendly policies, including extended paid maternity and paternity leave and additional leave for colleagues experiencing pregnancy loss or undergoing fertility treatment.
