Lloyds Banking Group\u2019s insurance, pensions and investments business has reported an underlying profit of \u00a3245mn in the first half of the year.<\/p>\n
That was a 70 per cent increase year-on-year for the group, which includes Scottish Widows. Assets under administration also increased 20 per cent to \u00a3303bn.<\/p>\n
Chira Barua, chief executive of Scottish Widows, said: \u201cWe\u2019re focused on helping more people engage with their finances, from bringing pensions together and building savings to exploring investing for the first time.<\/p>\n
\u201cAlongside continued growth in our workplace pensions and protection businesses, our AI agent is broadening access to guidance, improving understanding and helping build confidence to achieve better financial outcomes.\u201d<\/p>\n
The group said workplace pensions remained a significant driver of growth, with the Scottish Widows app helping to increase engagement.<\/p>\n
Ask FT Adviser<\/p>\n
BETA feature \u2014 this feature is still being tested and developed<\/p>\n
It said the app served more than 1mn users, representing 79 per cent year-on-year growth.<\/p>\n
The group added that the launch of Scottish Widows\u2019 AI agent had helped more customers understand their options and take their first steps as investors.<\/p>\n
There were also record Isa subscriptions of \u00a31.3bn across ready-made investments and stockbroking.<\/p>\n
Barua added: \u201cAs customer needs continue to evolve, we\u2019re well positioned to combine the scale of Lloyds Banking Group with leading pensions, wealth and insurance propositions.\u201d<\/p>\n
hereward.mills@ft.com<\/p>\n","protected":false},"excerpt":{"rendered":"Lloyds Banking Group\u2019s insurance, pensions and investments business has reported an underlying profit of \u00a3245mn in the first…\n","protected":false},"author":2,"featured_media":94025,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21256],"tags":[5483,2861],"class_list":["post-94024","post","type-post","status-publish","format-standard","has-post-thumbnail","category-lloyds-banking-group","tag-ft-adviser","tag-lloyds-banking-group"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117009776777447319","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/94024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=94024"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/94024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/94025"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=94024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=94024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=94024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}