The number of protection policies sold in the second quarter (Q2) of 2024 has increased by 1,303 from the same period in 2023, according to Gen Re’s Protection Pulse update.
Protection sales hit 492,428 in Q2 2024 compared to 491,125 in Q2 2023. However, sales were down from 510,141 in the first quarter (Q1) of 2024 when there were was a decline of around 40,000 protection policies sold compared to Q1 2023. There was also a decline in premiums in 2024, on an annual premium equivalent (APE) basis, as premiums decreased by £13 million to £384m in the first half of 2024. Compared to £397m in the same period in 2023, representing a 3.3% decline. Premiums in Q2 2024 were down to £188m from £191m in Q2 2023. This follows a 9% decline in premiums for term assura...
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