YuLife reaches £100 million in premiums

Life insurance startup YuLife has released its financial results for the year ending June 30, 2024.

The London-based startup generated £100 million in written premiums, a 31% increase compared to the prior period (£76.6 million).

YuLife reported 647k in “lives covered,” a ~14% increase compared to the previous period.

The startup’s revenue, which includes commissions and SaaS sales, doubled YoY to £10 million.

YuLife reported a net loss after tax of £25 million, slightly higher than the loss reported in the prior period (£24 million).

The startup disclosed that its financial runway is 3+ years and that it decreased its headcount from 220 to 195.