There was significant reader interest this week in news that while the life insurance industry had the highest number of covers in more than five years in the March 2025 quarter, claims for the period were the lowest in two years…
The FSC’s latest quarterly Life Insurance Industry Spotlight shows that while the industry had the highest number of covers in more than five years, claims for the period are the lowest in two years.
The council’s snapshot for the quarter to March 31, 2025, points to the highest number of covers in more than five years at 4.26 million with 1.8% growth year-on-year.
However the FSC also notes in its spotlight that claims [at around $280 million] are the lowest since March 2023 “…with this quarter’s reduction driven by an overall decrease in claims accepted for most products, except for Guaranteed Acceptance.”
It says the split by gender remains consistent at 60% male and 30% female (10% unknown) and more than 50% of premiums can be attributed to ages 46 to 65.