Growing older demographics
There were an estimated 16,400 centenarians in the UK in 2025, representing a 20% increase since 2015 and a 90% rise since 2005, according to Office for National Statistics figures cited by Insurance Business UK. An estimated 645,000 people were aged 90 and over, up 55% over the same twenty-year period. Male centenarians rose 47% in a decade to almost 3,100, while female centenarians grew 15%.
Industry implications
Cara Spinks, head of life and health at Broadstone, stated that while insurers and pension providers are adapting pricing and risk management for longer lives, the harder question of how to fund later-life health and care remains unanswered. The actuarial profession is increasingly modelling future care costs and examining private provisions to complement state support. For life and protection brokers, the figures point to the need to discuss care annuities, later-life lending and long-term care policies with clients.