A UK insurer selling hospital plans at work just had a record start to the year – here’s what’s driving it
Key Points
- Personal Group sold a record £8.1 million in new workplace insurance in the first half of 2026, up 9% on last year
- Group revenue rose 10% to £25.7 million and adjusted EBITDA jumped 22% to £6.7 million
- The Milton Keynes insurer sells hospital, recovery and death benefit plans to employees face to face at work
- More field days, higher average premiums and retention above 80% drove the record period
- The company holds £29.4 million in cash with no debt and reaches around 1.25 million UK employees
Personal Group sold a record £8.1 million in new workplace insurance policies in the first half of 2026, sending group revenue up 10% to £25.7 million.
The Milton Keynes company sells affordable hospital, recovery and death benefit plans to employees at their workplaces, alongside its Hapi benefits platform and Innecto pay consultancy.
It reaches around 1.25 million UK employees through clients including Royal Mail Group, British Airways, B&Q and the Office for National Statistics.
In a trading update for the six months to 30 June, the AIM-listed group reported adjusted EBITDA of £6.7 million, up 22% from £5.5 million a year earlier. It said trading remains in line with market expectations of £54.4 million revenue and £14.1 million adjusted EBITDA for the full year.
What’s driving the record half
Personal Group pointed to three factors behind the record period: more selling, higher premiums and customers staying put.
The company expanded its field team, which visits workplaces to sell policies to employees one to one, and delivered more field days as a result. Average premium per customer also increased, and more than 80% of insurance customers renewed year on year.
New annualised sales of £8.1m beat the £7.4 million sold in the same period of 2025, while total annualised premium income climbed 12% to £42.4 million. Insurance revenue reached £19.4 million, up 11%, and now accounts for around three-quarters of group turnover.
A partnership with Simply Health, signed in the previous quarter, has also started generating leads for the insurance pipeline, and the group said its digital sales channel continues to show encouraging signs. Claims levels in the half stayed consistent with past periods.
The group’s benefits and reward division grew revenue 9% to £5.7 million. Its Hapi platform, which bundles employee benefits, discounts and rewards, grew client numbers 11% year on year, and annual recurring revenue from Hapi and its Sage Employee Benefits partnership for small businesses rose 2% to £7.1 million.
Leads from the Sage partnership came in lower than expected in the first quarter, though the company said targeted actions started delivering more leads in the second quarter.
Innecto, the group’s pay and reward consultancy, signed contracts with Deliveroo, Newcastle United F.C., the Rugby Football Union, Vertis and Secure Trust Bank during the period.
£29.4 million in cash and no debt
Personal Group ended the half with £29.4 million in cash, up from £29 million at the end of December 2025, and carries no debt. More than 90% of group revenue comes from recurring sources.
Chief executive Paula Constant said the results reflect strong execution across the business. “The team has delivered yet another record period for insurance sales, underpinned by a mix of strong retention rates and new business wins,” she said, adding that the group’s cash generation and balance sheet give it a strong platform to execute its strategy.
The 40 year old company was also named one of the Sunday Times Best Places to Work during the period.
