L&G group life and IP new business value rises

Legal & General’s group protection business saw sales of life assurance and group income protection (GIP) grow 5% and 8% respectively on an annual premium equivalent (APE) basis in 2025.

The insurer has also expanded new business quotes through its Onix platform to limited liability partnership (LLP) members and equity partners.

It said LLP members and equity partners may be included in the same quote as their employees or quoted on a standalone basis, which aims to reduce lengthy administration for the customer.

The insurer also reported that its platform saw submitted new business quote volumes rise 2% with a 16% increase in overall application volumes, along with online renewals rising 144%.

The data showed that four in five new policies written in 2025 were covering fewer than 250 individuals.

This follows a move by L&G earlier last year to merge its partner policy terms with its employee policy terms, allowing for combined policies.

Colin Fitzgerald, distribution director – group protection at L&G, (pictured) said the insurer was pleased to see how the intermediaries using the renewal functionality.

 

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