Group risk premiums break £3 billion barrier in 2022: Swiss Re

In what was labelled by the reinsurer as "another strong year," more than 14.4 million people were recorded as covered by either a group life assurance, long-term disability (LTDI) or critical illness (CI) policy, the report found. Total in-force market premiums rose 8% year-on-year to £3.1bn, with the volume of in-force policies rising 3.6% to a total of 87,376 - 71.2% provide death benefits, 22.3% provided LTDI, and 6.5% provided CI cover. In-force death benefit policies increased by 2.7%, with lump-sum death benefits and premiums 8.8% and 9.1% higher respectively. Meanwhile, in-...