IFAs can manage bancassurance threat, says Datamonitor

clock

Sales of life assurance products will stage a strong comeback over the next four years and IFAs should be able to hold onto a position of strength in the distribution chain, says Datamonitor.

The consultant forecasts the UK life assurance market to grow by £1.8bn to £5bn in the period, as stock markets recover and pension products remain popular. Overall sales by life companies will depend not least on them learning the lessons of the past few years in which consumers have become wary of products such as endowments and with profits, which Datamonitor says “have failed”. Bancassurers will take an increasing share of the total market for life products, the consultant adds, but it will not be all plain sailing. Its figures suggest bancassurers took a 15% share of the annua...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Experienced adviser launches financial education website

Experienced adviser launches financial education website

Subscription-based model designed for individuals and businesses

Jenna Brown
clock 25 February 2025 • 2 min read
Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

‘A significant shift’ but not unprecedented

Sorin Dojan
clock 21 February 2025 • 2 min read
Advisers urged to encourage philanthropy as UK's wealthiest donate £8bn

Advisers urged to encourage philanthropy as UK's wealthiest donate £8bn

CAF report highlights untapped philanthropic potential among high-net-worth clients

Sahar Nazir
clock 21 February 2025 • 2 min read