National Friendly has reported new business growth in 2025, driven by rising demand for its Income Protection range, and continued expansion across intermediary distribution.
In the year ending 31st December 2025, the friendly society increased gross annual premium equivalent (APE) written by 40%, writing £14m of regular premium business and £31m of single premium business. Income Protection increased by more than 340% year-on-year (to £7.5m of annual premium), with a strong contribution from its Friendly Shield product.
National Friendly also reported a 30% increase in active advisers engaging with its proposition and 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 reported highlight for the mutual provider was securing €15m in Tier 2 capital - a significant transaction for an insurer of its size.
"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," Graham Singleton, chief executive of National Friendly, said.
He added: "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."
