Canada Life’s group protection sales rose 4% in 2025 and paid £541m in claims, according to the insurer’s full year results.
Canada Life’s group risk increase contributed to overall sales growth of 17% across the whole Canada Life UK group taking it to £5.2bn over the year.
The insurer also completed the sale of its closed individual protection onshore business to Countywide Assured which is a subsidiary of Chesnara.
Earlier this month Chesnara completed the purchase of HSBC Life UK which included the bank’s individual protection business.
2.8 million group risk members
Commenting on the protection business’ performance, Dan Crook, managing director, group protection (pictured), noted that the provider now looked after the needs of 2.8 million working people across the UK.
“In 2025 alone, we paid out £541m in claims and supported over 7,000 families in need,” he said.
“We’re committed to providing employees of our customers with financial, emotional and practical support when they need it most.”
Crook attributed sales growth to the provider’s strong track record in protection.
“This success is a testament to our strong reputation and our track record as an established and experienced provider, the strength of our propositions and the quality of our people,” Crook said.
“The competitive labour market and high potential for SME workplace offerings continues to represent growth opportunity.
“In individual protection, we successfully completed the sale of our book, allowing us to focus exclusively on the group protection market.
“Our customers remain at the heart of everything we do.”
Further product development
Looking to the future, Crook committed to further product development in the works.
“Our enhanced WeCare proposition continues to make a real difference with 97% of users saying they would recommend it and 92% telling us it helped them reach the outcomes they needed more quickly,” Crook added.
“We continue to invest in our proposition and there are some exciting new developments coming soon.”
