Ageas continues protection market growth

The provider saw new annual premiums rise by a third (33%) over the period to £14.1m alongside its share of the IFA market. It now claims 7.3% of IFA business and has increased its customer base by 63% from last year to over 150,000. The protection business, which launched in July 2008, incurred a pre-tax loss of £1.1m (compared to £2.0m at the same point last year) but saw gross written premiums grow to £19.2m (from £9.8m). In the first half of 2011, the insurer unveiled a lower initial cost life and critical illness product and an IFA based guaranteed acceptance plan. It also ...