AXA UK & Ireland is placing health insurance at the center of its strategy to tackle a growing problem: a workforce increasingly affected by long-term illness. Chief Executive Tara Foley has emphasized that timely health coverage can help employees recover faster and maintain productivity.
Health concerns are slowing UK productivity
Foley, who became CEO in September 2023, highlighted the scale of the issue in an interview with CityAM. She noted that 2.8 million workers in the UK now live with long-term health conditions, a number that has risen sharply since the pandemic. Common challenges include musculoskeletal and mental health issues, which significantly affect workforce participation.
Early intervention as a solution
“The quicker you get treatment, the more likely you are to recover and re-enter the workforce,” Foley said. AXA positions health insurance as a key tool to provide timely medical care, filling gaps left by public healthcare delays.
Private coverage gains importance in the UK
While health insurance is well-established in Ireland, the UK’s public system is under strain. Private coverage is increasingly vital for both individuals and employers aiming to reduce absenteeism and maintain productivity.
The scale of the workforce health crisis
As of mid-2025, about 2.78 million UK workers are economically inactive due to long-term illness, up from just over two million in 2019. Approximately 36% of working-age people report at least one long-term health condition, with mental health and musculoskeletal problems being most common.
In 2024, 148.9 million working days were lost to sickness or injury, averaging 4.4 sick days per employee. Absence rates are highest among women, older workers, and those in public sector or part-time roles. Economists warn that this trend is contributing to stagnant growth, wage pressures, and increased burdens on employers.
AXA’s growth strategy
Foley sees the current environment as both a challenge and an opportunity. AXA aims to reach at least £7 billion in gross written premiums, emphasizing sustainable growth through the right products and sectors. The company plans to expand health insurance offerings while maintaining technical excellence and competitive pricing.
Looking ahead
As AXA UK & Ireland finalizes its current strategic plan, Foley is focused on balancing expansion with meaningful impact, helping both employers and employees navigate the growing health challenges that affect productivity and economic growth.
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