London-headquartered health and life insurer Vitality has reported a strong return to profitability, posting a pre-tax profit of £48m for the year ending 30 June 2025. This marks a significant turnaround from a loss of £168,000 in the previous financial year.
Financial Performance and Revenue Milestone
The company's latest accounts, filed with Companies House, reveal that its total insurance revenue surged past the £1bn mark, reaching £1.1bn. This represents a substantial increase from the £991.5m reported for the year to June 2024.
The growth was driven by both of its core divisions. The health insurance arm saw revenue climb from £698.4m to £814.5m, while the life insurance division increased its sales from £293.1m to £342.8m.
New Business Sales Show Steady Growth
In terms of new business, Vitality Health's revenue edged up from £117.4m to £121.4m. Meanwhile, Vitality Life reported a more pronounced rise in new sales, which grew from £83.1m to £106.5m over the period.
The wider Vitality group encompasses several entities, including:
- Vitality Life
- Vitality Health
- Vitality Corporate Services
- Better Health Insurance Advice
- The joint venture, Healthcare
Navigating a Challenging Economic Climate
In a statement, the board acknowledged operating in a "complex and challenging macroeconomic and trading environment." Despite this, directors expressed optimism about the firm's continued growth, citing the strong results for the 2025 financial year.
The statement highlighted that ongoing pressures on the NHS underscore the importance of private health, wellness, and life insurance. It positioned Vitality's shared-value model as being well-placed to make a meaningful impact in these areas.
Vitality continues to invest in innovation and new product development to meet customer needs, alongside upgrades to its systems and infrastructure to ensure efficient service.
Company Background and Market Position
Founded in 1994 and led by chief executive Neville Koopowitz, Vitality is the UK's third-largest health insurer, behind Bupa and Axa. The company is ultimately owned by South Africa's Discovery Limited, a financial services group listed on the Johannesburg Stock Exchange.
