In The Exeter’s latest results, the firm said health insurance premiums had grown by 19.2% year-on-year, while income protection had risen by 5.5% over the same period.
The company added that gross premium income had increased year-on-year by 20.9% to £125.1m.
Its membership rose by 5.8% year-on-year to 146,385 members, and members booked over 10,000 health and wellbeing appointments through its HealthWise member benefits app. This is a 175% increase on the prior year.
The Exeter said the increased use of its services, offered by Square Health, shows “growing demand for fast access to services like remote GP appointments, physiotherapy and mental health support”.
Isobel Langton, CEO of The Exeter, said: “2024 was another strong year for The Exeter that saw our teams provide exceptional support to our members and advisers. In addition to paying more claims, we also grew our overall membership number, delivered an increase in new business and gross premium income, and saw increased engagement amongst colleagues.
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“These hugely positive results were achieved during a period of significant digital transformation that saw our amazing colleagues collaborate across multiple projects. Our continued investment in technology and our people will allow us to provide members and advisers with a more intuitive and efficient experience. I’m proud of what we’ve achieved and look forward to building on this momentum.”
Earlier this month, the firm announced that it paid out £61m in claims in 2024.
