Company: LLOBF
Filing Date: 2025-07-24
Form Type: 6-K
Source: 0001654954-25-008460
Chunk: 29

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 29
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 with core app for workplace pension customers growing to over 550,000 users, c.60% of which are active users

● Launched our new default fund, 'Lifetime Investment', available to new and existing customers and developed to maximise pension growth potential for customers, empowering them to meet their retirement goals

● Increased product offering in Ready-Made Pensions, Self Invested Personal Pension, Pet Insurance and relaunched the motor proposition with AXA supporting our focus on financial empowerment. Growth in Ready-Made Investments, with c.60,000 accounts opened to date and c.40% of customers under the age of 35

● Market share of new home insurance policy market remains above 12.5% as we continue to deliver volume by leveraging the Group's strong brands and transforming customer experience through digitisation 1

● Increased Protection market share to 7.5% and rank to 6th (31 March 2024: 5.7% and 7th) 1 supported by successful launch of our refreshed independent financial advisor proposition. New business applications more than double the prior year

● Continuing to drive penetration of mortgage customers, with take-up rate of protection products (as a percentage of mortgage completions) increasing to 20.2% (31 December 2024: 15.2%)

● Growth of 3% year to date on open book AuA to £191 billion (31 December 2024: £185 billion). Net AuA flows of £2.8 billion, including a significant contribution from the workplace pensions business, with an 5% year on year increase in regular contributions to pensions administered and £112 billion of AuA

● Climate-aware investments increased by £11.2 billion in 2025, bringing overall investment to £37.1 billion, currently exceeding the target of £20 billion to £25 billion by the end of 2025 2 .

● Trustpilot score of 4.4 stars for Scottish Widows and 4.6 for Lloyds Insurance, supported by a number of AI initiatives across customer services helping to reduce complaints and call handling times

Financial performance

● Underlying other income of £689 million, up 6% from strong business performance including higher general insurance income net of claims and strengthening income in Workplace

● Operating costs up 2%, reflecting inflationary pressures, continued strategic investment and business growth costs, partly offset by cost savings

● Balance of deferred profits broadly stable in the year at £5.