Statutory legislation and regulation are the factors most likely to impinge on the ability to increa...
Statutory legislation and regulation are the factors most likely to impinge on the ability to increase life insurance sales in 2007, according to a survey published by the Confederation of British Industry and PricewaterhouseCoopers (PwC).
Clare Thompson, UK insurance leader at PwC, said the life sector is still seeing the effects of A-Day.
The survey revealed that the sector experienced "another strong quarter of volume growth, advancing premium income and downward trends in costs".
Volumes were rated as "above normal" and over the course of Q1, they are expected to grow again but at a slower rate.
The report also revealed that firms plan to expand numbers employed more aggressively in Q2, and expect to invest more in IT systems and marketing during the course of the year.
Staff costs as a proportion of total costs were stable after two quarters of strong growth, and are expected to remain stable.
Also, staff turnover was one of many concerns that could affect business expansion this year.
