Product and customer data

Customer data

Number of retail customers

Quantity 2014 2015 2016 2017 2018
Number of UK customers 8,328,900 8,464,847 8,807,327 8,996,132  10,680,944
Number of UK policies 9,273,882 9,363,961 9,660,486 10,344,850  12,116,403
* Previous data included our business in France. We sold this business in Q2 2015.
Number of Customers 31.12.2014 31.12.2015 31.12.2016 31.12.2017 31.12.2018
Banner Life Insurance 936,640 975,617 999,978 1,033,870 1,078,886
William Penn Life Ins 158,564 162,734 165,612 167,786 169,532
LGA Consolidated 1,095,204 1,138,351 1,165,590 1,201,656 1,248,418
Number of policies 31.12.2014 31.12.2015 31.12.2016 31.12.2017 31.12.18
Banner Life Insurance 976,980 1,031,349 1,062,848 1,124,459 1,199,633
William Penn Life Ins 172,757 176,749 179,327 181,157 182,576
LGA Consolidated 1,149,737 1,208,098 1,242,175 1,305,616 1,382,209

 

Number of US complaints

Number of US Complaints 31.12.2014 31.12.2015 31.12.2016 31.12.2017 31.12.2018
Banner Life Insurance 66 64 61 42 33
William Penn Life Ins 23 22 21 18 6
LGA Consolidated 89 86 82 60 39

 

Non savings complaints (combined Savings & Non Savings)

Development of non savings complaints H1 2018 H2 2018 Full Year
Reportable (Final Response and SRC)  Reportable 14,441 14,780 29,221
Non material Non reportable 4,265 4,076 8,341
 Non regulated Non reportable  1,401 1,422 2,823
Total all complaints 20,107 20,278 40,385

Product performance as a pension provider

  2014 2015 2016 2017   2018  
Number of customers being paid directly at end of year 707,701 700,355 695,888 729,287 722,204
Total pension payments per annum £1,466M £1,574M £1,661M £1,777M £1,930M
Average per annum payment per customer £2,072 £2,248 £2,387 £2,437 £2,673

Home Finance – lifetime mortgages

Home Finance – Lifetime mortgages 2015 2016 2017   2018  
Total amount we advanced to customers £201m £620m £1,003m £1,197m
Number of customers 3,550 11,811 12,863 24,932
Number of accounts 3,214 7,587 12,863 15,035

Product performance as home insurer

  2013 2014 2015 2016 2017
Number of in force customer home insurance policies 1.8m 1.8m 1.6m 1.6m 1.7m
Amount in claims that we paid out to customers to restore/replace homes and possessions £132.6m £156.6m £130.4m1 £136.7m £143.5m
Approximate number of customers this has helped2 n/a n/a 74,000 99,000 92,000
  1. Data for claims we paid out in 2015 excludes fees.
  2. There may be more than on claim per policyholder.

Individual protection business

Children's critical illness claims paid

Children's Critical illness Claims paid 2015 2016 2017 2018
Percentage of Critical Illness claims paid out to families for children with critical illness 96.40% 94.20% 92.70% 96.0%
The amount of money we paid out to families £1.9m £1.8m £2.6m £1.9m
Amount of claims 106 103 127 120
Average age of child claimants 7 7 7  7

When customers pass away

When customers pass away 2014 2015 2016 2017 2018
The amount we paid out to families when someone has unfortunately passed away with life insurance cover £271m £277m £317m £313m £332m
The percentage of claims paid when someone passes away 98.30% 97.90% 98.60% 98.30% 97.0%
Amount of claims n/a 6,856 8,134 9,004 10,046
Average age of claimants n/a 63 64 66  67
Claims not paid due to misrepresentation n/a 1.80% 1.30% 1.55% 2.9%

Terminal illness claims

Terminal illness claims 2015 2016 2017 2018
The amount paid out to our customers and their families. £94m £107m £112m £107m
Percentage of claims paid 95.1% 95.7% 95.3% 97.0%
Amount of claims 998 1055 1077 1023
Average age of claimants 53 54 55  55
Claims not paid due to misrepresentation 0.90% 1.60% 1.42%  3.3%
Claims rejected for not meeting definition 4% 2.70% 3.19%  0.01%

Income protection

Income protection 2013 2014 2015 2016 2017 2018
Percentage of claims paid to customers who are unable to work because of health issues 92% 94% 95% 94% 96% 86%
Total paid out to supplement incomes while clients are too ill to work £1.40m £1.44m £1.3m £1.2m £1.2m £1.15m
Number of claims paid n/a n/a 403 420 441 474
Average age of claimants n/a n/a 41 41 42 41

Critical illness data

Critical illness 2014 2015* 2016 2017   2018  
Percentage of Critical Illness claims paid out to our customers 93.40% 91.50% 92.56% 91.75% 93.00%
The amount of money we paid out to our critically ill customers £245m £167m £181m £209m £195m
Number of claims paid n/a 2,601 2,788 3,041  3,041
Average age of claimants n/a 46 47 47  48
Claims not paid due to misrepresentation n/a 2.30% 2.60% 2.40%  3.50%
Claims rejected for not meeting definition n/a 6.20% 4.80% 5.85%  4.20%
* 2015 data excludes Children's critical illness

 

Employers

Group protection business for employers

  2014 2015 2016 2017 2018
Number of employees of businesses whose lives we insure 1.8m 2.2m 2.1m 2.0m 1.8m
Number of people rehabilitated back to work in that year 2,193 3,205 2,354 2,265 2,371
Amount paid out to clients per annum for critical illness cover £8.6m £7.9m £10.3m £9.2m £8.9m
Amount paid out to clients whose income we are protecting when they are unable to work £35.4m £54.6m £61.0m £68.4m £66.7m
Amount paid out to customers who have died £222.6m £213.9m £237.3m £206m £216m
Percentage of clients we pay out to on critical illness cover 80.1% 70.9% 79.2% 78.2% 77.5%
Percentage of clients we pay out to when the client dies 99.6% 99.8% 99.4% 99.6% 99.6%

 

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