National Friendly has reported strong new business growth in 2025, driven by rising demand for its Income Protection range, and continued expansion across intermediary distribution.
In the year ending 31 December 2025, the award winning friendly society increased gross annual premium equivalent (APE) written by 40%, writing £14m of regular premium business and £31m of single premium business. There was particularly strong momentum in Income Protection, which increased by more than 340% year-on-year (to £7.5m of annual premium), with a strong contribution from its innovative Friendly Shield product.
National Friendly also strengthened its presence in the intermediary market during the year, achieving a 30% increase in active advisers engaging with its proposition and impressive annualised growth and engagement in the networks market segment.
The Society says the growth reflects increased adviser demand for protection products that are accessible, affordable and inclusive, and which are designed to help reduce the protection gap.
Another stand out point for the mutual provider was securing €15m in Tier 2 capital - a highly significant transaction for an insurer of its size and which supports its ambitious growth agenda further.
Graham Singleton, Chief Executive of National Friendly, commented: “2025 was another standout year for National Friendly. We’ve delivered substantial growth across the business, with particularly strong performance in Income Protection, where adviser demand for innovative cover has increased significantly. Our focus has been on building products that are inclusive by design offering a practical and affordable solution which supports advisers to bring more people onto the protection ladder. The success of Friendly Shield shows there is real consumer and intermediary appetite for innovative solutions that bridge the protection gap.
We’ve also made strong progress in growing our intermediary reach and deepening our partnerships across the market, at the same time securing external financial backing to support our growth aspirations.
As a mutual, we exist to support our members, and our job is to keep evolving our proposition so we can help more people to build financial resilience at the moments it matters most.”
