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Comment on Swiss Re Group Watch 2016 report

7th April 2016

Commenting on Group Watch 2016, Swiss Re's latest annual report analysing the group risk market, Katharine Moxham, spokesperson for Group Risk Development (GRiD) said:

"It's really positive to see continued growth for the Group Risk industry which reflects the generally confident market sentiment over the last 2 years. Overall in-force group risk benefits have again increased across all three products - particularly for excepted group life and group critical illness - and almost 310,000 more people are protected through Group Risk arrangements against financial loss through illness, injury, death or disability."

"However, we still have a long way to go. No matter what salary is at stake, it s important everyone has a way to safeguard their family's financial stability as the unexpected death or disability of a breadwinner can often mean financial disaster for a family. Nevertheless, it's particularly encouraging to see that almost 2.3 million more people have this vital financial protection through the workplace than 10 years ago, an increase of almost 25%. It s important to emphasise that employers continue to play an important role in facilitating affordable financial protection cover that will not only support employees and their families, but will make a huge difference to morale, staff retention and productivity key business benefits."

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