National Friendly reported strong growth in 2024, with sales of income protection and accident only income protection (AOIP) policies seeing significant increases.
By 31st December 2024, income protection policy sales rose by 81%, and AOIP sales were up by 53%.
Since 2021, new sales across the company’s products more than doubled.
The organisation also saw a 12% rise in new business annual premium equivalent.
Its distribution network expanded with a 47% increase in active firms selling its policies, thanks to increased adviser and network engagement.
National Friendly maintained high claims and service standards, paying out 97% of claims within a 3-day service-level agreement.
The company also achieved a Net Promoter Score of 59, reflecting customer satisfaction.
Graham Singleton, chief executive of National Friendly, said: “2024 has been another exceptional year for National Friendly.
“Our strong performance reflects the dedication of our teams, the trust placed in us by our members, and our close partnerships with advisers and networks.
“Our purpose has always been to provide peace of mind through the provision of affordable insurance solutions to as many families as we can, and these results affirm that we’re delivering on that promise.”
Singleton added: “Over the past year, we’ve also worked hard to broaden our product offering and enhance our service levels, ensuring we continue to meet the evolving needs of those most in need of insurance solutions.
“The economic uncertainty faced by many UK households highlights the importance of accessible and affordable protection.
He said: “Our innovative solutions, like Friendly Shield and our enhanced income protection products with a significantly optimised application journey and almost instant access to underwriters, have helped bridge this gap while keeping families financially secure during challenging times.”
