Mutual insurer The Exeter has reported a 20.9% rise in gross premium income to £125.1m in 2024.
The increase reflects continued demand for health and income protection products, as well as growing engagement from both members and advisers.
The results, presented at the firm’s Annual General Meeting, show new business premium income rose to £35m, up from £31.3m in 2023.
Health insurance led the growth, with new business premiums increasing by 19.2 percent, while income protection grew by 5.5%.
Membership also rose by 5.8% year on year to 146,385. The mutual saw a sharp increase in usage of its HealthWise app, which offers access to health and wellbeing services.
In 2024, members booked over 10,000 appointments through the app, a 175% rise on the previous year.
Chief executive Isobel Langton said: “2024 was another strong year for The Exeter that saw our teams provide exceptional support to our members and advisers.
“We grew membership, increased new business and premium income, and saw even greater engagement across the business.”
The insurer also reported a rise in employee engagement, with its internal score increasing to 87% in 2024 from 83% the year before.
Staff highlighted a strong sense of purpose and meaningful work as key factors behind the improvement.
Charitable activity also remained a focus. In 2024, employees raised more than £51,000 for good causes.
The Exeter concluded its three-year partnership with FORCE Cancer Charity, raising a total of £127,000, and named Macmillan Cancer Support as its new corporate charity partner for 2025.
Langton added: “These hugely positive results were achieved during a period of significant digital transformation.
“Our continued investment in technology and our people will allow us to provide members and advisers with a more intuitive and efficient experience.”
