Mortality returning to pre-pandemic lows – IFoA

Mortality in the first quarter of 2024 was similar to the low mortality seen in the first quarters of 2019, 2020 and 2022, according to data from the Institute and Faculty of Actuaries.

This significant improvement was primarily driven by older age mortality where most deaths occur, according to IFoA’s Continuous Mortality Investigation data, which notes that mortality rates in the working age population are still “significantly higher” than pre-pandemic lows.

There were around 3,400 deaths involving Covid-19 registered in the first quarter of 2024, compared with around 7,700 in the first quarter of 2023 and 12,800 in the first quarter of 2022.

Cobus Daneel, chair of the CMI Mortality Projections Committee, said: “After periods of high and volatile mortality during the peak of the pandemic, we have now seen several months of lower mortality rates more in line with typical seasonal variations. However, the picture is less rosy for the working age population who are still seeing mortality higher than pre-pandemic lows.”

Average mortality over the last twelve months is now also close to the record low, with only periods including 2019 having had lower annual average mortality.

IFoA’s latest update covers week 13 of 2024 (to 29 March 2024) and the first quarter of 2024, and is based on provisional England and Wales deaths data published by the Office for National Statistics on 10 April 2024.



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