Gross premiums increased by 17% to £83m, against £71m in Q1 last year, with 21% growth in the broker
channel and 25% growth in the direct channel.

Roughly half the sales were family or business protection with the remainder linked to mortgages.

L&G said: “We also continue to benefit from market consolidation and a strong proposition based on automated underwriting, which provides administration and underwriting cost efficiencies.”

Group protection achieved Q1 new business APE of £12m (Q1 2011: £15m).