Income protection premiums grow 21% in 2022: Gen Re

The Protection Pulse 2022 Review, which tracks new business sales from all the major writers of insurance in the UK protection market, found that overall premiums written fell 1% last year to a total of £760 million, down from £767m in 2021. The reinsurer noted that 2022 began along similar lines to the previous year with the emergence of the Omicron variant of Covid-19, which gave way to an "ever uncertain political and economic backdrop." Against this landscape, Gen Re recorded a 21% year-on-year increase in new income protection premiums written in 2022, rising from a total of £66m...