Shepherds Friendly paid 96% of new IP claims in 2024

In 2024, Shepherds Friendly accepted 96% of new Income Protection (IP) claims. This is a slight increase on its five-year average (95%).

Related topics:  Shepherds Friendly,  claims
Tabitha Lambie | Editor, Protection Reporter
29th May 2025
Ann-Marie O’Dea, CEO of Shepherds Friendly
"We’re pleased to have helped so many members and their families last year, providing vital financial support during periods when they were unable to work."
- Ann-Marie O’Dea, CEO of Shepherds Friendly

Last year, Shepherds Friendly paid 96% (477) of new Income Protection (IP) claims. Overall, the mutual paid out £3.23mn for new and existing IP claims. 

Musculoskeletal (MSK) conditions made up more than half (55.8%) of new claims received during 2024, followed by conditions affecting the chest, lungs, nose, or throat (6.9%), and heart conditions (6.9%).

Mental health conditions made up 5% of claims, while gastrointestinal problems and cancer accounted for 4.8% and 4%, respectively. 

The value of payments made was also dominated by MSK conditions (54.6%) for both new and existing IP claims in 2024. Mental health conditions were the next highest at 11.5%, followed by cancer at 9.9%.

Conditions affecting the chest, lungs, nose, or throat accounted for just 1.9% of the amount paid out, while gastrointestinal problems made up 1.2%. Heart conditions were responsible for 3.7% of last year’s payouts.

19 claims were rejected for not meeting the policy's terms & conditions. 

Ann-Marie O’Dea, CEO of Shepherds Friendly (pictured), said, "We’re pleased to have helped so many members and their families last year, providing vital financial support during periods when they were unable to work.

"As a mutual, our members always come first and have done so for almost 200 years. As we look ahead, we remain dedicated to meeting their changing needs in the future."

More like this
Latest from Financial Reporter
Latest from Property Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 8,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.