View more on these topics

L&G pays over 93% of CI claims

Legal & General paid 93.6 per cent of all critical illness claims in 2009, while Aegon paid 88 per cent.

L&G says only 1.8 per cent of claims were declined due to non-disclosure and 4.6 per cent were declined for definition not met. In total, £152m was paid out to 2,149 individuals and families.

Paid CI claims by Aegon dropped from 91 per cent in 2008 to 88 per cent last year. Of the 12 per cent declined claims one third were due to non disclosure and two thirds were due to the definition not being met.

Total life claims paid reached 92 per cent.

Aegon group head of underwriting and claims Matt Rann says: “In the past, the split in declined claims between non disclosure and definitions not being met was broadly 50/50. The reduction in instances of non disclosure to one third is evidence that people are now providing fuller and more accurate information at application stage and it also reflects the positive changes to claims brought in by the ABI in 2008.”


Schroders sees record inflows hitting £15bn

Schroders took a record £15bn of inflows last year after outflows of £9.6bn in 2008. Funds under management grew by grown 35 per cent to £148.4bn from £110.2bn. Profits rose by 12 per cent to £138m from £123m, with a full-year dividend of 31p per share. There was a 10 per cent fall in net […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment