Friends Prov global sales soar but UK protection sales static

Combined group sales at the end of September, excluding the acquired AXA UK Life business which contributed £26m, totalled £683m, a 35% increase on the same period in 2009. This growth has been driven by the International and Lombard businesses, up 31% and 184% respectively, whilst the UK business remained static. However, the group says the UK protection market remains highly competitive and is closely linked to a weak housing market. "Consequently consolidated sales volumes, at £32m, remain depressed with standalone Friends Provident sales down to £27m from £31m in the prior peri...