Many Group Ltd, the parent company of ManyPets, has published its Annual Report and Financial Statements for the year ended 31 March 2026, reporting profit before tax of circa £10m, up 59% on the prior year (£6.3m), reflecting the benefits of sustained investment in technology, data and operational capabilities that continue to strengthen the Group's competitive position.
Gross written premium grew 6% year-on-year to £230m, while new business volumes rose 40%, with acquisition costs falling and average premiums held stable in a market where pricing broadly declined. The loss ratio improved two percentage points to 68%, against continued claims inflation across the UK pet insurance market.
The results come at a moment of rapid change in the UK pet insurance market, as advances in technology, data and AI reshape how insurers acquire customers, manage risk and serve policyholders. This year's performance demonstrates the benefits of the investments the Group has made over recent years, enabling it to improve profitability while continuing to invest for future growth.
Chief executive Luisa Barile said: “The investments we have made over many years in technology, data and operations are now translating into stronger customer outcomes, faster innovation and improving financial performance. This year's results demonstrate the strength of the platform we have built and our ability to grow profitably while continuing to invest in the future”
Chair Martin Totty said the results reflected the group's positioning in a fast-changing market with a long-term structural opportunity that remained largely untapped.
“Pet insurance remains significantly underpenetrated, with, according to Mintel, around 21% of pet owners holding a policy. As veterinary medicine continues to advance, the value of insurance will only increase. That gap continues to attract new entrants and underlines the long-term structural opportunity.”
Growth underpinned by pricing and distribution strength
New business grew by 40% during the year while acquisition costs fell, despite a softer pricing environment across the market. The results reflect continued improvements in pricing and distribution capabilities, increasing brand strength, and the growing use of AI across customer acquisition, enabling the Group to attract more customers, more efficiently.
“We achieved new business growth of 40% while reducing our cost of acquisition and maintaining stable average premiums in a market where pricing broadly declined. Together, these are strong indicators of the quality of our customer base and the increasing effectiveness of our pricing and distribution capabilities," added Luisa Barile.
The loss ratio improvement to 68% was achieved despite ongoing claims cost pressures across the market, which the group attributed to multi-year investment in pricing models and data infrastructure built on more than one million risks insured over time.
