Aviva paid out more than £413mn to its employees and their dependents in group protection claims over 2023.
Aviva said this was the equivalent of more than £1.1mn being paid out a day to 8,077 employees and their families.
This was across group income protection, group critical illness, and group life insurance claims.
Aviva group protection sales director, Jason Ellis, said: “The insight clearly demonstrates how we’re supporting employees and their loved ones through difficult times, not only financially, but also through specialist wellbeing services and rehabilitation expertise.
“Through our group income protection, we remain focused on helping employees stay at work, or return to work as soon as possible.”
Ellis added the firm's report “clearly shows” the continued need for group protection and the value it offers to employers and their workforce.
“As growth continues to be strong in the market, it’s reassuring that more employers are recognising the benefits of looking after the physical, mental, and financial well being of the workforce, both to manage business risk and to retain and attract talent,” he said.
In conjunction with Aviva’s individual protection claims figures, the report’s findings mean the company paid more than £1.59bn last year.
Group critical illness
In addition, Aviva paid out more than £41mn on 572 group critical illness claims, with an average amount of £71,746 paid out.
Almost two thirds (64 per cent) of these claims were paid to those aged between 40 and 59, with the average age being 48.
With seven in 10 claims relating to cancer, it was “by far” the most common reason for claim.
This was followed by heart attack, which was the cause of 7 per cent of claims, stroke (6 per cent) and multiple sclerosis and benign brain tumour (3 per cent).
Additionally, in 2023, the group reported paying over £116mn in group protection benefit for new and existing claims to 5,361 claimants.
This averaged out to £21,820 paid in the year per claim.
Similarly to its group critical illness findings, cancer was the most common reason for making a claim, accounting for 24 per cent of new claims.
This was followed by mental health (19 per cent), orthopedic (16 per cent), and neurological conditions (12 per cent).
tom.dunstan@ft.com
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