Provider, Scottish Widows, has revealed that its new business applications for protection have more than doubled in the first half of 2025, compared to this time last year.
Scottish Widows said it is continuing to drive penetration of mortgage customers, with an increase in the take-up rate for its protection products as a percentage of mortgage completions. For the six months to 30 June, 2025, this take-up increased to 20.2% from 15.2% recorded by 31 December, 2024. The provider has also recorded an increase in its protection market share to 7.5%, compared to 5.7% on 31 March, 2024. Scottish Widows noted that it now ranks sixth, compared to the 7th ranking recorded at the end of March 2024, as per figures by the Association of British Insurers (ABI)....
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