Press release 23 April 2025.
Commenting on Swiss Re’s Group Watch 2025 report, Katharine Moxham, spokesperson for GRiD says:
“It’s great to see that over half a million more employees are benefitting from group risk benefits (employer-sponsored life assurance, income protection and critical illness), and are now protected from the financial devastation that death, accident, illness or disability can bring.
“The all-round growth during 2024 demonstrates that employers increasingly recognise the value of group risk, not only for giving financial protection to their people for the worst kind of life events, but also for the support services provided to both employers and employees.
“It’s particularly pleasing to see so many SMEs offering group risk benefits to their staff, with over 90% of group risk benefits offered for groups of less than 250 employees.
“With the challenges that employers have faced, including absorbing costs from additional National Insurance contributions, increasing PMI premiums and other financial pressures, our industry needs to work with them to ensure that group risk protection benefits stay front of mind. The benefits punch above their weight, and provide a raft of help and support for health and wellbeing, as well as financial protection.”
- Ends –
For further information please contact:
Sharon Mason
SMUK Marketing and PR
Mob: 07747 611773
Land: 01252 843350
smason@smuk.org.uk
Katharine Moxham
Spokesperson for GRiD
Mob: 07887 512508
Katharine.moxham@grouprisk.org.uk
Notes for editors
About GRiD
Group Risk Development (GRiD) is the industry body for the group risk sector, promoting the value to UK businesses of providing financial protection for their staff, enhancing their well-being and improving employee engagement. Our membership includes insurers, reinsurers, intermediaries and those operating in (or with other interests in) the UK group risk market. Together this forms a collective wealth of experience built over many years. Under the chairmanship of Colin Fitzgerald (Distribution Director – Group Protection, L&G Retail) GRiD aims to promote group risk through a collective voice to Government, policymakers, stakeholders and employers.
GRiD works with government departments and regulators involved in legislation and regulation affecting group risk benefits, and with other organisations involved in the benefits and financial protection arenas. GRiD also seeks to enhance the industry’s standing by encouraging best practice and by participating in industry-wide initiatives such as the professional qualification in group risk managed jointly with the Chartered Insurance Institute.
GRiD’s media activity aims to generate a wider awareness and understanding of group risk products and their benefits for employers and employees.
GRiD’s dedicated spokesperson, Katharine Moxham, provides expert media comment on a full range of group risk issues.
Follow Katharine Moxham on Twitter @KMoxham
