Insurer, Aviva, has reported a 16% downturn in protection sales in H1 this year compared to the same period last year.
Protection sales totalled £172 million for the business, compared to £205m in H1 2024. The insurer attributed this downturn to its acquisition of AIG last year leading to consolidation of products in late 2024. The insurer acquired AIG Life from Corebridge Financial in April 2024, in a deal worth £453m. Doug Brown, CEO of insurance, wealth and retirement, Aviva, said: "Protection sales were down due to the consolidation of propositions in the second half of 2024 following the acquisition from AIG, but we have seen an improved value of new business." Looking at new business, both in...
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