50 jobs at risk as Standard Life exits protection market

The firm, which joined the protection arena in 2005, says its protection range represents less than 1% of its sales and only 0.6% of the UK market. It adds around 50 employees could lose their jobs as a result of the announcement, but has pledged to continue serving its existing customers, which number around 400,000. Firm spokesman Paul Keeble says: “This was a hard decision to make, but sometimes these decisions have to be made. The UK protection market continues to be fiercely price competitive. “It makes more commercial sense to focus our resource and investment on other lines of bu...