LV= has seen a slight decrease in its protection business over the last year but says sales have been 'resilient' amid ‘adverse market conditions'.
For the 12 months ending 31 December 2013, protection sales totalled £29 million, the insurer's latest trading statement has shown.
This is a slight dip from the 12 months ending 31 December 2012 where protection premiums had reached £32 million.
Mike Rogers, group chief executive at LV= said: "Despite a tough trading environment, sales for LV= have been robust over the course of 2013."
Rogers described the insurer's life business as "resilient" despite turbulent market conditions.
He added: "In protection, our performance has been good taking into account the adverse market conditions as a result of the tax changes and gender rules.
"We continue to be the number one income protection provider of choice for IFAs and during the year we launched a new direct product to appeal to those consumers who would not have previously considered protecting their income.
"Overall within the life business we expect to report an improved underlying operating profit for 2013 compared to 2012."
Rogers concluded: "We are continuing to build a compelling and diverse business with strong long-term prospects and I am confident that we will report good returns for our members for 2013 when we release our full results on 31 March 2014."
