Pensions sales grow by a third at Friends - papers 2nd Nov

Friends, the UK’s fourth-biggest listed life insurer, said total life and pensions new business for the nine months to September 30 was £425m, up 31% on £323m a year earlier, according to the paper. However, despite the rise in annual premium sales, the life insurance company said sales of protection products had fallen 11% over the first nine months to £50m. Sales of protection products have slowed because of the slowing housing market. Ben Gunn, the head of Friends’ life and pensions division, said he did not imagine that there would be any let-up in competition, although he predict...