An exciting start to the year!
We have had a really exciting start to the year with completions in 2025 being nearly 30% up on 2024 already!
There are lots of opportunities to get involved with product transfers with lots of fix terms coming to an end this year, staying in touch with your customers to have these in motion 6 months prior to the date is so important. Make sure of the monthly newsletter to ensure you are at the forefront of your customers minds.
We hope you enjoyed celebrating our 10th anniversary at The National Training Event yesterday and we look forward to seeing you again soon.
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Anita White
Head of Lender Relationships
Is your business ready for the rest of the year?
There have been numerous product launches this year already, with our most recent development from More2life. If you want to get to know more about any new products from our various lifetime lenders – they are more than happy to help!
Get booked in one on one to see how the new offering can help your customers.
As we approach quarter two of the year already, is your business ready for the rest of the year? Take time to look at your marketing and how you are keeping in touch with your customers.
We hope you enjoyed celebrating our 10th anniversary at The National Training Event yesterday and we look forward to seeing you again soon.
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Victoria Clark
Head of Equity Release
Protection Developments!
Sales of pure protection life insurance have increased by 25%, reaching £431 million in the year leading up to June 2024. This growth is attributed to heightened awareness of inheritance tax implications and the role of life insurance in estate planning.
National Friendly reported significant growth in income protection and accident-only income protection policies, with sales increasing by 81% and 53% respectively in the year ending December 31, 2024. This trend reflects a growing consumer focus on financial security and income protection.
A survey by The Exeter indicates that over half (51%) of advisers expect increased demand for health insurance, income protection, and life insurance products in 2025. This anticipated rise is likely due to heightened consumer awareness of health and financial well-being.
These developments underscore a dynamic and evolving protection insurance market, influenced by regulatory changes, leadership shifts, and growing consumer interest in financial protection products. We should make sure we are jumping on this increase, and making the most of the publicity and awareness with our clients.
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Amy Wilson
Head of Insurance Products
UK PMI is GROWING!
The UK private medical insurance (PMI) sector has experienced significant growth and transformation recently. As of the end of 2023, nearly one in eight Britons—approximately 11.8% of the population—are covered by private medical insurance, the highest proportion since 2008. This surge is largely driven by companies offering policies to employees and individuals seeking personal coverage due to delays in NHS care. The total value of medical and dental cover reached a record £7.59 billion, with private medical cover accounting for £6.15 billion.
Employer-sponsored schemes have seen notable growth, covering 4.7 million individuals—the highest level in over 30 years. Insurers paid out a record total of £3.57 billion for private medical insurance claims in 2023, up 21% compared to 2022 figures. This equates to £9.8 million per day across the year, with payouts for workplace policies increasing by 26% to £2.27 billion.
The demand for private health cover has reached its highest levels since 2008, as challenges in accessing NHS-funded care continue to push individuals toward privately funded alternatives for diagnosis and treatment.
Have you done enough to make sure you are the person that the clients think of when they want to take out a new policy?
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Bipin Sandhu
PMI Supervision & Development Manager
Thank you everyone!
A huge thank you to everybody we saw at our National Training Event! It was so great to see you all and we hope to continue seeing you at our various other events throughout the year.
You may have also seen the exciting news that Higos are now Brown & Brown, they’ll be more communications in the coming weeks however this is a great move for them as a business and us as a referral partner.
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Amy Wilson
Head of General Insurance (PMI and GI)
