Non-mortgage-related term assurance saw a massive increase in sales over the third quarter of 2008. ...
Non-mortgage-related term assurance saw a massive increase in sales over the third quarter of 2008.
The latest statistics from the Association of British Insurers (ABI) show a leap from 205,000 policies written in the second quarter to 940,000 policies written in the third.
The ABI put this increase down to: "one company selling a large amount of business to their current account customers."
However the total value of new premiums only rose from £86m in the second quarter to £98m in the third, indicating low value policies.
The association added that it was not at liberty, due to confidentiality of data, to name the company.
