Many Group reaches profitability

Many Group, the parent company of UK-based pet insurance provider ManyPets, announced it has achieved profitability for the first time since it launched insurance products in 2017.

The group reported a net profit of £6.25 million for the year ending March 31, 2025, a significant turnaround from the £33 million loss recorded in the previous year. Gross written premium stood at £232 million and revenue at £62 million, up from just under £30 million the previous year.

Loss ratio also reduced from 78% in 2023/4 to 70% for 2024/5, reflecting the tighter management of ManyPets’ insurance book and a new pricing strategy.

The company shared that claims and customer service operation was restructured and policy administration was migrated to its own insurance platform, bringing cost benefits and greater flexibility. Up to 45% of claims are now handled via ‘Millie’, the company’s AI claims assistant, and the company also developed its own AI models to automate elements of service, freeing up more time for agents to spend with customers.

“The past year has been a pivotal one for ManyPets. We are incredibly proud to report a return to revenue growth, with our first annual profit, of more than £6m. This success is down to more efficient processes, our market-leading proprietary technology and our exceptional, customer-focused team. ManyPets has been able to innovate at speed, offering a seamless service to pet parents at a lower cost. With a lean cost base, agile pricing, a well-managed loss ratio and a sharp focus on cutting-edge innovation, we have a healthy business with a strong foundation for sustainable growth. Prioritising technological innovation means we are now a mature, agile operator, rich in data-driven insight and able to continue to scale. “Looking ahead, we are now set to invest further in our marketing channels and proposition to drive our next phase of growth.” – Many Group CEO Luisa Barile.