Reinsurer, Swiss Re, has published its annual Group Watch report, detailing that growth in the UK risk market slowed in 2025 due to increased employers’ national insurance (NI) rates.
The report detailed that the number of in-force group risk policies in the UK grew to 96,006, a 1.4% increase year-on-year. The growth, however, represented a downturn from 2024's figure, which saw 3.2% growth compared to 2023. The total number of people insured under group risk policies, according to Swiss Re, grew by 3.5% to just over 16 million, with total in-force premiums seeing a growth of 2%. Changes to employers' NI were announced during the Autumn Budget 2024, it saw rates grow to 15% for employers, whilst lowering the threshold at which they are required to pay. The hi...
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