Life Insurance Industry Spotlight June 2025

The FSC gathers industry data on Life Insurance and publishes quarterly spotlights for the sector.

This spotlight is a quarterly snapshot for Life Insurance as at 30 June 2025.

Key insights and trends include:

• There has been a 21% in total claims accepted despite the minimal movement in total premiums and total covers.
• This quarter’s total growth compared to June 2024 (1.4%) is relatively low compared to the usual 2-5% year on year growth historically observed.
• Lapses this quarter doesn't appear to follow the usual seasonality trend of growing in June as it has reduced by 1% this quarter.
• Accidental Death continues to be the largest product by covers, although Trauma and Group are showing significant increases, with Group now exceeding Guaranteed Acceptance as the fourth largest product.
• More than 60% of premiums can be attributed to ages 46 to 65.
  

Click here for the downloadable version of the June 2025 industry spotlight.