Reinsurer, Swiss Re, has released its annual Group Watch report for 2025, finding that growth within the UK group risk market slowed in 2024 against a “challenging” market backdrop.
The number of in-force group risk policies increased by 3.2% in 2024 to 94,675 from 91,739 in 2023, and the number of people insured increased to nearly 15.7m compared to an increase of 3.7% to 15.1m in 2023. Breaking down this growth, the number of people insured under group death benefit policies increased by 3.6%, compared to a 3.9% growth in 2023. As part of this, membership of excepted group life policies increased by 9.3% and registered group life policy membership increased by 2.1%. As for the number of members insured in critical illness (CI) schemes, this also increased by 4%...
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