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Following its successful re-entry into the critical illness market in April last year, Skandia, part of Old Mutual Wealth has revealed that 96% of claims received a pay-out in 2013.

The comprehensive Skandia Protect product offers customers high quality cover across a wide range of medical conditions. The claims paid rate figure is a 1% increase on the previous year which was the highest in the industry at the time.*

Over three quarters (77%) of the claims made in 2013 were for cancer, heart attack or stroke. The average payment for a successful claim on a Skandia Protect critical illness policy in 2013 was £148,148.

All claims made to Skandia that were unsuccessful during 2013 were because the condition definition was not met. There were no claims turned down because of non-disclosure.

Skandia also continued its record of paying out 100% of life assurance claims for the fourth consecutive year.

Skandia Protect Critical Illness originally entered the market in January 2001.

Ian Jefferies, head of protection at Skandia comments:Ian Jefferies

“At Skandia we are focused on delivering a high-quality market-leading critical illness product. Our impressive claims paid data for 2013 demonstrates that our focus on thorough and understandable condition definitions, rather than the number of conditions covered, makes a real difference to customers, giving them the reassurance of financial protection for them and their families should the unthinkable happen.”

*According to the Times comparison produced on 15th June 2013.

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145

Notes to editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.1 billion in customer investments (as at 30 September 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.