AIG Life pays out £394m for claims in 2023

The provider, which is now part of Aviva Group, paid out 95% of claims last year, with £206m paid in individual protection claims. The figure is up from £204m in 2022 and up 11% on the number of claims paid the previous year. More than £164m was paid out across 4,400 individual life insurance and terminal illness benefit claims in 2023, with 99% and 95% of claims paid respectively. Almost a third of those who died and were covered under the provider's life insurance, had cancer (32%), while 17% had heart disease and 13% had a respiratory condition. Overall, 96% of terminal illness ...