PruProtect has announced a significant rise in new business premiums and the number of lives it now covers.
The figures came with the release of its annual results for 2011 that show the four-year-old provider completed the year with an 8.75% share of the IFA protection market. It also reported a post-tax profit of £7.3m. New business premiums were up 31% compared to 2010, with annualised new business sales of £31.4m in 2011. Average new business premiums have increased by 60%, which the provider put down to a new product launch last March and new distribution agreements. It has recently signed deals with St James Place, Pink, Mortgage Advice Bureau and Simply Biz. In force annual ...
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