IFAs can manage bancassurance threat, 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...