Royal London hits assets record amid pension pushRoyal London boss does not except the uptick in pension activity to slow downRoyal London recorded a new record high for assets under management, as the group was buoyed by resilient market activity and an influx of pension wealth. Royal London chief executive, Barry O’Dwyer, said: “There have obviously been impacts in parts…but the market has proved incredibly resilient despite everything that’s happening in the outside world.” The mutual recorded a 13 per cent increase in operating profit to £187m, bolstered by higher contributions from both its protection and workplace pension propositions alongside asset management. Pension system shakeupPension new business sales increased five per cent to £4.7bn, primarily driven by its workplace pension channel. During the first half of the year, the group paid out 98 per cent of protection claims, sending customers £392m.