Zurich has recorded its highest quarterly protection market share as part of an overall growth in its IFA presence.
The results are part of a strong annual performance by the provider's UK Life arm that saw total new premiums (on an APE basis) climb 24% to £622m. Its value of new business grew 54% to £94m after tax, the new business margin was up to 15% and its operating profit for 2010 also rose 29% to £233m. The provider achieved its protection market high-water mark in the third quarter when it achieved a 7.7% share of the sector, up from 5.3% during the same period in 2009. Commenting on the results, Michael Brennan, CEO of Zurich UK Life, said he was particularly pleased with the growth in ...
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