Income protection records strong start to 2023: Gen Re

According to Gen Re data, 121,000 income protection policies were written in the first half of the year, a year-on-year increase of 22% compared to the same period in 2022. Meanwhile, annual premium equivalents (APE) rose 31% to £48 million during H1 2023 compared to £36m over the same time period. The reinsurer stated that in the first quarter of this year, £24m of IP premiums were written representing the highest levels recorded since Protection Pulse reporting began "The growth in premiums exceeds that of the number of contracts written, driven potentially by high levels of wage...