The UK market will continue to shift towards protection says Aviva's Toby Strauss, after the insurer reported its third consecutive quarter of life sales growth.
UK life and pension sales at the company rose to £5.19bn in the first half of the year to 30 June, up from £4.73bn in H1 09. Gross margins for life new business were 3.4%, up from 2.1% for the same period last year. The chief executive of Aviva UK Life says the growth reflects his company's strategy since 2007 of adjusting its mix towards its "heartlands" of protection, savings and pensions. "There is a shift towards protection in uncertain times as people protect against the downturn. "But we have been focusing on adjusting our mix towards protection and annuities over the last...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
