The Association of British Insurers (ABI) has released half-year figures showing the sale of regular...
The Association of British Insurers (ABI) has released half-year figures showing the sale of regular premium life assurance products remains steady. Premium income increased by 3% in the first six months, representing £628m of new business.
A combination of record level mortgage sales in July and an increasingly competitive life assurance market has seen a rise in the number of mortgage-linked level term insurance policies. In the first half of 2001, 407,000 new contracts were taken out. This rose 41.5% to 576,000 in 2002.
Mary Francis, director general of the ABI, said: 'We are pleased to see a continued rise in the sales of life and pension policies. However, there is still much work to do to encourage greater levels of saving.'
