Regulation could drive mutuals 'out of existence' - Exeter

The insurer cautioned that the current trend of consolidation could be transferred into distributors if these costs continued to rise. However, LifeSearch highlighted that there was a good side to the spate of mergers and acquisitions in the protection market. Speaking at the COVER Health and Protection Forum, Andy Chapman, CEO of Exeter Family Friendly, said financial requirements and red tape were restricting the market. "Apart from two or three very large ones I don't think there's enough capital in mutuals to go mass market and be all things to all people," he said. "What we...