Personal Group

What Personal Group does

Personal Group Holdings Plc is a UK-headquartered financial services group operating across three integrated lines: affordable employee insurance (hospital, recovery, and death benefit plans underwritten by the Group's own subsidiaries including Personal Assurance (Guernsey) Limited), the Hapi SaaS benefits platform, and Innecto pay-and-reward consultancy. The Group is listed on AIM (LON: PGH), founded in 1984 (with the current holding company incorporated in 1993), headquartered in Milton Keynes, and operates through wholly-owned FCA-, PRA- and GFSC-regulated subsidiaries that together generated FY2025 group revenue of £48.4m, adjusted EBITDA of £12.1m, and ARR of £48.6m, with insurance representing £40.5m of Annualised Premium Income and the Hapi platform contributing £7.3m of ARR.

The company's proposition is built around supporting UK employers — particularly those with lower-paid workforces — in retaining staff amid cost-of-living pressure and long NHS waiting lists, by packaging insurance, benefits and reward services in a way that is accessible on weekly or monthly rolling contracts. Distribution combines a differentiated face-to-face field-sales model (Employee Engagement Executives visiting client sites, claimed to be unique in the UK), the Hapi digital platform with HR analytics and self-service enrolment, and channel partnerships — most notably with Sage (which also serves as a client and was extended into Ireland in Q2 2025) and EB Now (15 clients live). Insurance claims are paid within two days in 99% of cases, customer retention runs at 81.7%, and the Group protects over 350,000 UK workers annually, with FY2025 adding 50,000+ employees across security, healthcare, retail, banking, mining and education verticals through new client wins.

Financially the Group is a cash-generative, debt-free business: £29.0m of cash and bank deposits, £9.9m of operating cash flow, and a 41% dividend increase to 23.3p/share. Recurring revenue contributes over 90% of total revenue, providing visibility. Strategic direction in 2025 centred on international expansion (Ireland), new product launches (Pathfinder digital reward offering under Innecto, plus digital insurance testing), partnership build-out (Sage renewal/extension, EB Now), and governance refresh at Board level. The business is positioned as a purpose-led challenger in the UK SME and mid-market employee benefits segment, with a stated ESG target of an 'Excellent' Ecovadis rating by 2026 from the current 66th-percentile 'Good' standing.

Name

Personal Group

Legal name

Personal Group Holdings Plc

Website

https://personalgroup.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Personal Group is a UK-listed financial services group providing affordable employee insurance (hospital, recovery, death benefit), the Hapi SaaS benefits platform, and Innecto pay-and-reward consultancy to UK employers and their workforces. It distributes through a unique face-to-face field-sales model alongside digital and channel partnerships, including Sage.

Ownership category

akta.pro rank

Product category

Employee Benefits and Insurance

NAICS

Insurance Agencies and Brokerages (524210), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Insurance Agents, Brokers & Service (6411), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD)

akta.pro secondary industries

Worksite Financial Wellness & Employee Assistance Programs (EAP) (FSAIAMAN), Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

Keywords

• Employee benefits
• Insurance products
• Benefits platform
• Pay and reward
• Group insurance

Headquarters

HQ city

Milton Keynes

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Others

Revenue model

1. Insurance Premium Income: Annualised Premium Income (API) of £40.5m as at 31 December 2025, up 12% from £36.0m in 2024. Insurance products include hospital plan, recovery plan, and death benefit policies underwritten by Group subsidiaries, offered on weekly or monthly rolling contracts. Over 90% of reported revenue derives from recurring revenue sources including insurance.
2. SaaS Benefits Platform Subscriptions (Hapi): Benefits Platform ARR of £7.3m as at 31 December 2025 (2024: £6.7m). The Hapi platform provides subscription-based access to employee benefits management and reward tools for corporate clients.
3. Pay & Reward Consultancy (Innecto): Expert pay and reward consultancy services provided through Innecto Reward Consulting, including a new Digital offering called Pathfinder launched at end of Q4 2025. Part of the Benefits & Rewards division.
4. Annualised New Insurance Sales: Annualised new insurance sales increased 11% to £15.4m, representing new business written on rolling contracts.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Personal Group provides affordable employee insurance (hospital plan, recovery plan, and death benefit), an award-winning SaaS employee benefits platform (Hapi) for managing workplace benefits, and pay and reward consultancy services through Innecto Reward Consulting. The company distributes these offerings to UK employers via a unique face-to-face field sales model (Employee Engagement Executives) combined with digital self-service and strategic channel partnerships.

Product overview

Personal Group operates as a multi-product company offering three core product lines: (1) Hapi - an award-winning SaaS employee benefits platform for managing workplace benefits and engagement; (2) Insurance Products - affordable hospital plans, recovery plans, and death benefit policies underwritten by Group subsidiaries; and (3) Innecto Reward Consulting - expert pay and reward consultancy services. Additionally, the company offers digital insurance propositions and field-based Employee Engagement Executives (EEEs) for face-to-face sales engagement. The product architecture combines a SaaS platform with insurance distribution and consultancy services, enabling comprehensive employee benefits and protection solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Hapi: Award-winning employee benefits SaaS platform enabling organisations to support and protect their workforce through HR analytics and benefits management.
• Personal Group Insurance
• Innecto Reward Consulting

Products and services

• Hapi Employee Benefits Platform Award-winning cloud-based SaaS benefits platform that enables organisations to manage and deliver employee benefits, featuring HR analytics, benefits management tools, multi-channel distribution, and third-party rewards integration.
• Insurance Products (Hospital, Recovery, Death Benefit) Affordable insurance offerings including hospital plan, recovery plan, and death benefit policies underwritten by Group subsidiaries, offered on weekly or monthly rolling contracts to UK employees through their employers.
• Innecto Reward Consulting Expert pay and reward consultancy services helping businesses design and implement effective compensation, reward, and employee value proposition strategies.
• Pathfinder Digital offering launched under Innecto Pay & Reward consultancy, providing digital reward and benefits capabilities to enterprise clients, with initial sales orders at the end of Q4 2025.

Quantifiable outcome

• Group revenue up 11% to £48.4m (2024: £43.8m)
• +8 more outcomes

Named customers17 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• SagecoreChannel Partner/ Reseller/ Distributor · 1 January 2025Sage partnership enables Personal Group to access the SME market at scale. The partnership was renewed and expanded into new products and geographies, entering Ireland in Q2 2025 as the first new territory. Sage serves both as a distribution channel and as a client of the Hapi benefits platform.
• EB NowminorChannel Partner/ Reseller/ Distributor · 1 January 2025Secured as a new partner with 15 clients now live on the Hapi benefits platform. EB Now is a channel partner helping distribute Personal Group's benefits offerings.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Benefex: UK-based employee benefits platform and consultancy competing directly with the Hapi SaaS benefits platform. Comparable target market (UK employers) and overlapping product category (benefits technology, rewards, and recognition).
• Perkbox: UK employee benefits and engagement platform serving employers with rewards, wellbeing, and benefits tools. Direct competitor to the Hapi SaaS platform in the UK mid-market and enterprise employee benefits space.
• Westfield Health: UK not-for-profit provider of employer-sponsored health cash plans and wellbeing benefits. Highly comparable as a UK group health/benefits provider targeting the same employer and SME market with similar affordable, worksite-distributed products.
• Reward Gateway: UK-headquartered employee engagement, rewards, and benefits platform. Direct competitor to the Hapi SaaS benefits platform with overlapping UK employer customer base and benefits technology offering.
• SimplyHealth: UK provider of affordable health plans (including hospital and dental cash plans) to individuals and employers through group schemes. Closely comparable to Personal Group's hospital plan, recovery plan, and death benefit offerings sold on a worksite/employer-sponsored basis.

Broad incumbents

• Howden Group: Large UK and international insurance broker providing group benefits, health, and protection insurance to corporate clients. Comparable as a UK insurance intermediary with overlapping employer-facing distribution, though much larger and broader in scope.
• Bupa UK: Major UK private health insurer offering employer-sponsored health insurance and wellbeing services. Comparable given Personal Group's hospital plan offering addresses similar employer health-benefit needs, though Bupa operates at much greater scale as a direct insurer.
• Unum UK: UK provider of group protection insurance including group life, income protection, and critical illness. Comparable to Personal Group's group death benefit and recovery plan products sold to employers via intermediaries.
• Aon (UK Employee Benefits): Global professional services firm with a substantial UK employee benefits consulting and group health/insurance brokerage practice. Comparable in addressing UK employer group benefits and insurance advisory needs, though Aon operates at far greater scale across a broader service portfolio.
• Vitality UK: UK health and life insurer with a strong employer-sponsored group benefits proposition. Overlaps with Personal Group's group insurance and employee benefits focus, though Vitality's underwriting scale and shared-value model represent a different competitive paradigm.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/personalgroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Personal Group