Health and life insurer Vitality surged back into the black after its revenue passed the £1bn mark during its latest financial year.
The London-headquartered business has posted a pre-tax profit of £48m for the 12 months to 30 June 2025, new accounts filed with Companies House show.
The total comes after it fell to a pre-tax loss of £168,000 in the prior year.
The new accounts have also confirmed that the firm’s insurance revenue increased over the same period from £991.5m to £1.1bn.
The group includes Vitality Life, Vitality Health, Vitality Corporate Services, Better Health Insurance Advice and the joint venture Healthcare.
The firm’s health division’s insurance revenue increased in the year from £698.4m to £814.5m while its life division’s sales went from £293.1m to £342.8m.
In terms of new business sales, Vitality Health’s revenue edged up from £117.4m to £121.4m while Vitality Life’s sales rose from £83.1m to £106.5m.
Vitality navigates ‘complex and challenging macroeconomic’ environment
A statement signed off by the board said: “Despite a complex and challenging macroeconomic and trading environment, the directors remain optimistic about Vitality’s continued growth and financial performance, following strong results for the year ended 30 June 2025, in particular.
“The ongoing challenges facing the NHS highlight the importance of health, wellness, life insurance and resilience – areas where Vitality’s shared value model is well positioned to make a meaningful impact in its markets.
“Vitality continues to invest in innovation and the development of new products that meet customer needs and deliver positive outcomes, alongside investment in systems and infrastructure to ensure efficient servicing.”
The company is the UK’s third-largest health insurer behind Bupa and Axa.
It was founded in 1994 and is led by chief executive Neville Koopowitz.
The business is owned by Discovery Limited, a South Africa-based financial services group listed on the Johannesburg Stock Exchange.