The UK group risk market demonstrated positive growth in 2020 reflecting its resilience and versatility against a difficult backdrop, according to Swiss Re’s annual Group Watch report.
The 2021 report, published today, reveals that the number of in-force group risk policies increased by 3.6% last year and that the number of people covered overall grew by over 150,000 (1.1%) to 13,317,249 by the end of 2020. This compares with 1.3% growth recorded in 2019...
...Also commenting on the findings, a spokesperson for industry body for the group risk sector GRiD, said the fact that the market has seen growth during the pandemic underlines the value that employers are placing on being able to support their workforce via group risk benefits.
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