Old Mutual Wealth, part of Quilter, paid 98.78% of life claims and 96.2% of all critical illness (CI) claims in 2018.
The firm has paid out nearly £150m in claims across life and CI since 2016. During 2018, Old Mutual paid out £37.3m worth of life insurance claims (with an average claim size of £82,931) and paid out £19.3m in CI claims (with an average claim size of £126,889).
For the third year in a row it has increased the percentage of CI claims, paying almost 6% more than in 2016.
In total, over 84.9% of CI claims were for three conditions - cancer (66.45%), stroke (7.24%) and heart attack (11.18%) - and the average age of claimant was 55 for women and 59 for men.
"Today's claims statistics add to our superb track record and illustrate our commitment to our customers and advisers," said Paul Roberts, head of protection at Old Mutual Wealth. "These positive claim figures continue to give our customers confidence that we will always endeavour to give them the best possible outcomes.
"When people come to us at the claim stage they are often at a vulnerable moment in their life as they might be grieving for a loved one or scared because of a worrying diagnosis. For this reason it is of paramount importance that we continue to give our customers a dedicated and empathetic service, which helps guide them through a difficult time."
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