More than eight out of 10 policies for long term care insurance were sold through IFAs during the fi...
More than eight out of 10 policies for long term care insurance were sold through IFAs during the first three months of this year.
Figures for the first quarter of 1999 show brokers picking up the biggest proportion of single premium business - an 81.4% market share which is up slightly on the same time last year.
The ABI began collating new single premium figures for long term care insurance during the first three months of 1998.
IFAs also saw an increase in new regular premium figures for LTCI, with market share up over 12% on the same time last year to 67.8%.
New single individual life sales rocketed during the first quarter - up 30% on the same time last year - with independent intermediaries picking up some 60% of available business.
Company staff almost doubled their individual life non-linked premiums to £852m, increasing their market share by 7%.
In new regular premiums, the most significant shift in market share during January to March was a 4% increase in sales through company agents of banks compared with the same period in 1998.
Although the level of business during January to March remained similar to the sales seen in the first quarter of last year, total sales of non-linked individual life business increased by 11% to £252m.
