Dentists’ Provident distributed £7.9m as bonuses to its members in 2024 according to its annual report, released this week.
That represented an increase of £400,000 over 2023, when the bonus was £7.5m in 2023 and £7.3m in 2022.
Dentists’ Provident also paid out £4.9 million in claims last year. That compared to 2023 when Dentists’ Provident paid out sickness claims of £5.2m and 2022 when Dentists’ Provident paid £5.6m in claims.
Claims pay out rates on new claims, once again remained close to 100%, but declined slightly, with a rate of 97.5% in 2024, compared to 99% in 2023 and 99.1% in 2022.
Total income for the year was £40.2m, a touch higher than in 2023.
Dentists’ Provident is an income protection provider for dental professionals.
The annual report, published this week, will be presented for approval at the annual general meeting in May.
Giles Kidner, chairman of Dentists’ Provident (pictured) said: “I am very pleased with these results.
“Our unwavering commitment to our core value of prioritising our members has been the foundation of our longevity and success and 2024 was no different.
“Our strength lies in putting our members at the heart of everything we do and doing what is right, not only for our current membership, but also for future generations.”
Farrukh Mirza, CEO of Dentists’ Provident said: “We continue to manage our business conservatively and our financial position remains strong.
“We have worked hard to keep our costs under control despite inflationary pressures and without compromising our service or the quality of our plans.”
