SMEs a 'huge opportunity' to better manage group risk: Wheatcroft

The report found that the number of employees covered by group risk policies grew 2.2% in 2022, with in-force premiums exceeding £3 billion for the first time, marking what the reinsurer labelled as "another strong year". Over 14.4 million people were recorded as covered by either a group life assurance, long-term disability (LTDI) or critical illness policy, however, Wheatcroft told COVER that there is a "huge opportunity" for the group risk space within the SME space. The report detailed that more than 90% of in-force LTDI policies were among employers with less than 250 employees, ...