Aviva has announced total pay outs of more than £1.07 billion for claims across life insurance, critical illness, income protection (IP) and other individual protection policies last year.
The annual pay out total dropped marginally from £1.09bn in 2021, although the insurer paid out on a higher percentage of claims in 2022 (98.3%) compared to the previous year (98.1%). The insurer received a total of 50,595 individual protection claims during the year, comprising 41,002 claims for life insurance, 3,683 claims for IP, and 4,689 claims for critical illness. Aviva said this marks its highest pay out rate since it acquired Friends Life in 2015. Life insurance claims, including terminal illness benefit claims, made up the bulk of the pay outs last year at £683.6 million, wi...
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