The insurance and long-term savings sector is over a fifth of the way towards its commitment to invest £100 billion in UK productive assets 1 across the next decade, with the latest figures confirming progress of £22.8 billion since 2024.2 The update report published today by the ABI shows £11.5 billion was invested across 2025.3
The industry is already a key investor in UK infrastructure projects, providing long-term investment capital for the benefit of communities and businesses across the nations and regions. The update report shows a number of investments made in this period, including high-quality rental and social housing for families on an average income, temporary accommodation for vulnerable residents awaiting a long-term home, education campuses and vital water infrastructure for approximately 2.5 million people across North West England.
Annuity providers’ pledge to invest £100 billion was made following changes to the prudential regulatory regime, now known as Solvency UK, which made it easier for the insurance and long-term savings industry to invest in productive assets.
The top three sectors4 invested in over the first two years of the pledge are:
- £9 billion invested in real estate, including helping to build affordable and social housing and student accommodation;
- £5.3 billion invested in utilities, including energy and water supply;
- £1.8 billion invested in transport, storage and construction, including in ports, buses and rail transport.
The ABI and its members continue to engage with regional authorities and the investment community across the UK to develop relationships and explore further potential opportunities, especially those with a focus on green and good projects and supporting economic growth. To maintain momentum, a stable and predictable pensions policy environment is crucial to give long-term investors the confidence they need to invest.
It’s very good to see that insurers are on track to deliver on their pledge to invest £100 billion in UK productive assets, like energy, housing and infrastructure projects. These are tangible investments which are driving economic growth and positive change in communities across the country.
Rt. Hon. Lucy Rigby KC MP
Economic Secretary to the Treasury
Two years into this pledge, firms have already invested almost £23 billion into projects that make a real difference across the UK, from new homes and student accommodation to major water infrastructure and education facilities. This is exactly the sort of long-term investment our sector is well placed to provide. Maintaining a stable and predictable policy environment will be essential if firms are to continue investing at scale in the homes, infrastructure and businesses that support economic growth across the country.
Hannah Gurga
Director General
Notes to editors
Footnotes
1. A productive investment asset is defined as one that:
- Contributes to the real economy: It actively supports economic growth and
- Expands productive capacity: It enhances the ability to produce goods or services or,
- Furthers sustainable growth: It aligns with sustainable development goals.
2. We occasionally restate previously published figures when updated data becomes available to give the most accurate picture possible.
Investment patterns can vary significantly throughout a typical calendar year, determined by market conditions and the volume of opportunities being presented. Therefore, this data should not be taken as indicative of annual trends and the annual total in future years may be significantly above or below current figures.
3. To track progress, a number of firms agreed to report their investment data to the ABI: Aviva, Canada Life UK, Just Group, L&G, M&G, PIC, Rothesay, Royal London, Scottish Widows, and Standard Life. These firms collectively represent most of the individual and bulk annuity business in the UK, taking on £38.3 billion of DB pension liabilities and writing nearly £7.4 billion of individual annuity business in 2025.
4. Only investments that back annuity business are considered in-scope for tracking. This includes assets sitting outside of the Matching Adjustment Portfolio, providing that they are also supporting annuity business. Investments that are fully or near-fully based in the UK are eligible for tracking. Only primary market transactions (i.e. assets acquired directly, or near directly from the issuer) and assets with a total term of one year or greater are considered in scope. This therefore excludes short term assets such as treasury bills and commercial paper.
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