Scottish Widows quashes exit talk

Scottish Widows' move to leave the intermediary protection market has sparked rumours that the firm is to leave the industry altogether.

Several experts had predicted that the firm would soon exit the protection sector completely.

However, Johnny Timpson, head of protection development at Scottish Widows, quashed the rumour, saying it was "quite incorrect".

"We withdrew from the intermediary market because our business was very small. We are still reviewing where we are going, however at this moment in time we remain in the protection market."