M&G Plc Returns to Profit With 2025 Annual Gain

The Tip Desk · March 12, 2026 · 2 min read

The holding company reported profit attributable to equity holders of £302 million for the year ended 31 December 2025

M&G Plc, a holding company with authorized and regulated subsidiaries, reported a profit attributable to equity holders of £302 million for the year ended 31 December 2025, reversing a loss of £360 million in 2024.

This recovery followed a volatile first half of the year. For the six months ended 30 June 2025, the company reported profit attributable to equity holders of £243 million, compared to a loss of £62 million for the same period in 2024.

Financial performance for the full year was driven by a net insurance and investment result of £3,243 million, up from £1,346 million in 2024. This result included an investment return of £15,623 million, which rose from £8,686 million in the previous year. These gains were offset by net insurance finance expenses of £13,846 million, compared to £8,436 million in 2024.

Other revenue streams showed modest growth. Fee income rose to £1,064 million from £1,029 million in 2024. However, administrative and other expenses increased to £2,725 million from £2,566 million.

To support long-term value creation, the Board approved updates to the Group’s Capital Allocation Framework and a revised dividend policy. The company said the updated dividend policy aims to provide stable or growing dividends over time, subject to resilience and affordability.

Strategic expansion continued through the acquisition of a majority stake in P Capital Partners, a private credit specialist. The company stated that private credit is an increasingly attractive market for institutional investors and that the acquisition will enhance the range of solutions available to clients.

Adjusted operating profit remained stable at £838 million, compared to £837 million in 2024. The company says it remains on track to achieve a target of 5% annual average growth in adjusted operating profit over the three years ending in 2027.

Management noted that geopolitical events may continue to challenge market sentiment for financial institutions. The company says its international footprint and investment expertise in Europe and Asia will continue to be a source of competitive advantage.