Reinsurer, Gen Re, has published its Protection Pulse Q1 2025, which indicates that the protection industry saw year-on-year growth across both annual premium equivalent (APE) and the number of policies sold in Q1 2025.
When it comes to the number of policies, just over 531,000 policies were sold in this time, up from just over 512,000 the previous year. Total APE grew to £205 million in the quarter, up from £196m in 2024. This number was largely made up of term assurance APE, the product accounted for 45% of Q1 2025 APE. Accelerate critical illness (26%), income protection (12%), as well as guaranteed (6%) and underwritten (6%) whole of life also accounted for much of the quarterly APE. Roy McLoughlin, board member, PDG, said: "The PDG welcomes this increase in business, hopefully this indicates ...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.
