Vitality: Profit on the up at health and life insurance giant

Tuesday 04 March 2025 10:32 am

Well being and life insurer Vitality returned to revenue development through the first six months of its present monetary 12 months, it has been revealed.

The corporate, which is UK’s third-largest well being insurer behind Bupa and Axa, has posted a normalised revenue from £40m for the ultimate six months of 2024.

Its UK well being division reported a revenue of £25.9m, up from the £22.5m it achieved throughout the identical interval in 2023.

The arm’s insurance coverage income additionally jumped from £340m to £394m.

Vitality’s life insurance coverage division’s revenue additionally rose from £13m to £14.1m.

Its premium revenue rose from £197m to £217m whereas its insurance coverage income grew from £145.3m to £162.4m.

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Neville Koopowitz, CEO at Vitality, mentioned: “Our interim outcomes mirror a profitable six months for Vitality by way of development and retention.

“We persistently discover our merchandise resonate with individuals – there not solely at their time of want, but additionally offering tangible help and incentives to assist them stay more healthy lives, firmly embedding preventative well being inside their on a regular basis. 

“We’re very effectively positioned for additional development and are dedicated to always evolving our services and products, with a robust concentrate on embracing and investing in AI, to offer individuals extra personalised well being help and canopy.” 

The half-year outcomes come after Vitality slipped into the pink regardless of its income surging by virtually £100m throughout its newest full monetary 12 months,

The UK operation consists of Vitality Life, Vitality Well being Insurance coverage, Vitality Well being, Vitality Company Providers, Higher Well being Insurance coverage Recommendation and the three way partnership Healthcare.

Final month, it was introduced that clients are to be provided discounted weight reduction remedies via the group in a UK first.

The group is to supply reductions of as much as 20 per cent for drugs reminiscent of Wegovy and Mounjaro to its 1.9 million members.

The supply is to be based mostly on their physique mass index (BMI) and weight-related well being situations, Vitality mentioned.