Reinsurer, Swiss Re, has released its Term & Health Watch 2026 report, detailing a decline in growth for total new sales amongst most protection products in 2025.
Last year, 2,003,907 new term assurance, whole life, critical illness (CI) and income protection (IP) policies were sold, declining by 1.8% compared to 2024. Looking at product type, IP was the only protection product to see growth in 2025. Total new sales for IP were up by 11.9% to 262,994 from 235,063 in 2024, compared to growth of 18.4% in 2024. Swiss Re said the growth in IP was supported by increased use of multi-benefit policies, with "strong" contributions from shorter-term and retirement-aligned cover. Meanwhile, total new sales for life assurance were down by 11.3%. Breaki...
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