Reinsurer, Gen Re, has released its Protection Pulse H1 2025 update which showed that the market saw a slight growth of 3% in annual premium equivalent (APE) and 1% in policy count year-on-year.
The increases brought total market premiums up to £397 million, driven by notable growth in Q1 which then slowed in Q2, according to Gen Re. Term assurance took up the lion's share of policies in force and APE, it recorded £177m in APE, up 5% year-on-year. The product also saw a 2% increase in policy counts, up to 534,000. Following close behind but seeing less growth was accelerated critical illness which remained steady at £104m in APE, up 1% year-on-year, with 211,000 policies in force, the same as H1 2024. The whole of life market saw the biggest swings, with underwritten whole...
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