Friends Prov plans 'protection on wrap' offering

The insurer's chief executive Trevor Matthews says Friends is currently in discussions with a "number of players" over potential plans to offer protection on wrap, which would encompass existing client assets. Already in use in more established wrap markets, such as Australia and South Africa, protection on wrap is seen by providers as a logical step forward for the industry. While Matthews agreed with Friends' decision to cease its wrap development six months before his arrival at the company, he says the firm is still keen to participate in the marketplace. "I am interested in getti...