Personal Group has completed the design of its new group cash plan product, which Health & Protection revealed in January, and plans to begin testing it shortly with direct and partner sales routes.
The firm has also agreed a joint sales partnership with Simplyhealth to engage with the provider’s 12,000 business relationships.
The details were included in Personal Group’s annual results which showed its 2025 profit after tax and revenue both increased by double-digit percentages.
Personal Group reported an after-tax profit of £7.3m last year, up 12.2% from £6.5m, while revenue rose 11% to £48.4m from £43.8m, with growth reported across all divisions.
Notably, it reported annualised new insurance sales increased 11% to £15.4m and annualised premium income (API) increased 12% to £40.5m, supported by strong customer retention of 81.7%.
New clients wins including Avery, Securitas and Harbour Healthcare added more than 50,000 new employees to the group’s addressable customer base available for insurance.
It also began testing of new digital insurance propositions for hospital cover and death plan, “with positive early response from customers”.
Cash plan and Simplyhealth deal
Regarding the new cash plan product, Personal Group said: “We have also finalised the development of our group cash plan offerings, which we intend to test on our direct base as well as through partnership.”
It added: “We are progressing a number of interesting insurance partnerships, including the provision of face-to-face and digital employee-paid cash plans.”
The strategic focus on partnering with existing insurers has already begun with a deal put in place since the end of 2025 to work with Simplyhealth.
“Post-period end, the group secured a partnership with Simplyhealth,” it said, “providing access to Simplyhealth’s 12,000 business relationships to deliver face-to-face employee engagement to support the sale of both Personal Group and Simplyhealth’s insurance plans.”
This was in addition to a partnership with intermediary Santé Group established in September 2025.
“These partnerships provide accelerated access to clients and employees that we would otherwise pursue through individual direct B2B sales channels,” Personal Group’s noted.
Simplyhealth sales and marketing director James Henderson told Health & Protection: “We’re delighted to be entering into this strategic partnership with Personal Group.
“This is an exciting opportunity as not only do our values closely align, with both organisations committed to improving access to healthcare for all in the UK, but we also have complementary capabilities and products.
“We are looking forward to this relationship becoming much more than the sum of its parts for our clients and their employees.”
Record year for insurance sales
Personal Group chief executive Paula Constant said it had been a “brilliant year of progress” with double-digit growth and continued high retention levels of over 80%.
“Insurance sales delivered another record year, driven by the strength of our face-to-face model and improved operational grip, and benefits and rewards saw growing levels of ARR and new and expanded partnerships,” she said.
“Against a backdrop of increasing cost-of-living pressures, high levels of workforce illness and ongoing challenges for employers to attract and retain employees, our insurance and benefits offerings are more relevant than ever, and we are proud at Personal Group to deliver products that have such meaningful impact.”