Housing jitters to hit Friends Prov profits

Protection sales increased 2% over the last six months, to £202m, well down compared to group pensions – which increased sales by 11%. “About 56% of our key protection business is driven by the housing market and it is a bit of a varied market with some uncertainty,” Friends Provident UK sales and marketing managing director Simon Clamp says. He added the sector was fiercely competitive across the board, and most of Friends Prov’s rivals were experiencing the same or perhaps even less impressive results. Clamp acknowledged the current moderate protection market meant the 2008 new bus...