L&G protection sales fall 13%

The provider's group sector was hit worst with a 15% drop to £57m from £67m in 2008, while the individual market fared a little better, slipping 12% to £123m from £140m. It said the group market experienced higher than expected levels of re-broking as businesses looked to cut costs as the effects of the recession began to bite. Direct individual protection sales increased 12%, and L&G sited good returns from its relationship with Nationwide Building Society and in targeting high net worth, family and business protection. L&G also said that its individual protection sales outperform...