Life Insurance News: Friends Provident Sales Success
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Article Published: 27-Apr-2007
Friends Provident has seen a 12% rise in sales of life and pensions cover but whilst consumers are spending, they do not appear to be bothered about protecting their payments. The life insurer has confirmed that the market for protection insurance was still struggling.
Friends Provident is Britain’s seventh biggest listed life insurer and their life and pensions' business was above the average estimate for the first quarter sales of £1.4bn by recording new business sales of £1.5bn. The figures are based on new sales, which allow a better comparison of the sales performance of life assurance across Europe.
"Product mix and the level of protection sales remain critical to achieving our UK new business profits target of £180m to £200m in 2008," said chief executive Ben Gunn. "The protection market remains challenging and the impact of this will become clearer as the year progresses."
Source: Insurance-4-life.co.uk
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