Bupa Individual Protection reports surge in new business

Bupa Individual Protection saw a 38 percent increase in new business annual premiums during 2008, building on the 25 percent growth achieved the year before.

The increase relates to Bupa's critical illness cover, income protection and life assurance products.

Steve Casey, Bupa Individual Protection's head of product development and marketing, said: "To report a thirty-eight percent increase in such unpredictable economic times is credit to our supporting intermediary partners, the quality of our products and our continued commitment to innovation.

"We don't intend to sit back on our laurels. We will continue to develop and improve our products to provide customers with comprehensive insurance cover when they need it most."

The announcement comes after the company reduced the cost of its award winning critical illness cover by an average of three percent and revealed that the average critical illness claim paid out in 2008 was £93,000.

Bupa's range of critical illness and income protection products have achieved five star ratings following a recent re-accreditation from Defaqto, a leading independent research company which rates products across the whole market.