Life insurers are much less optimistic about the overall business situation than they were three months ago, according to a report by PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI)
Business volumes in the sector continued to fall strongly over the last three months, at the fastest pace since June 2009, and the level of business remained well below normal, the research suggests. However, life insurers expect volumes to rise slightly in the next quarter. This quarter's fall came exclusively from business with private individuals, but this is expected to grow marginally over the next three months. Commissions or fees and premiums fell strongly. The latter are expected to fall rapidly again over the next three months. Income from both premiums, fees and commissio...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes