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AIB's life and pensions venture, Saol Assurance, has shown significant improvement in its second full year of operation, with losses narrowing by 30% to €9 million. The venture plans to expand its product offering and is supportive of a new State-sponsored savings scheme to encourage investment in higher-yielding assets.
AIB's life and pensions venture, Saol Assurance, narrowed its losses by 30% to €9 million in 2025, its second full year of operation. This improvement was driven by a 12% increase in total revenues to €40.3 million, primarily due to fee income.
Gross written premiums grew by 16% to €533.5 million, while annual premium equivalent (Ape) rose nearly 20% to €84.1 million. Assets under management (AUM) for clients increased about 19% to €2.9 billion, with the number of policyholders reaching 62,200 by the end of June 2025. Saol Assurance has accumulated losses of €83.7 million since its incorporation in 2021, as initial setup costs and operating expenses exceeded income.
However, the venture has consistently outperformed its medium-term business plan since its launch in 2023. AIB, under CEO Colin Hunt, re-entered the life and pensions business in late 2020 after exiting it during the financial crisis. The joint venture with Saol Assurance aims to capitalize on opportunities presented by an aging population, with AIB also acquiring Goodbody Stockbrokers in 2021 to further tap into this market.
AIB is planning to introduce a new State-sponsored savings scheme to encourage households to invest in higher-yielding assets. This initiative aligns with the European Commission's broader push for EU member states to adopt tax-friendly investment models. Saol Assurance has welcomed this EU savings and investment drive, expressing confidence in the market's potential to address unmet customer needs in Ireland
AIB Saol Assurance Life And Pensions Loss Narrowing Investment Savings Scheme EU Commission
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