Partnership's new business sales for its care products have fallen by 35% due to the Retail Distribution Review (RDR) and 'uncertainty' over the care cap.
The firm's interim management statement showed sales of immediate needs annuities for the nine month period to 30 September2013 reached £44.9m.
This is a 35% drop from the nine months to 30 September 2012 where sales had reached £68.6m.
Care new business sales for the three months to 30 September 2013 reached £16.8m, a 28% decrease on the previous year, where care sales totalled £23.4m.
A spokesperson for Partnership said "the Retail Distribution Review (RDR) and uncertainty over the government's Care Cap proposals had impacted sales."
The group said care new business sales were gradually recovering. In its interim statement it added "recovery is expected to remain slow, with volumes gradually increasing into 2014"
Meanwhile protection sales increased by 13% from £2.3m to £2.6m in the nine months to 30 September 2013.
Sales increased from £0.5m to £0.8m in the three months to 30 September 2013.
Overall, the group reached a total of £931.7m in sales, which included increases in retirement and protection new business sales. This was a 9% increase on the previous year where total sales reached £857.6m.
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