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Solid year for PruProtect – results

  • 12/09/2012
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Solid year for PruProtect – results
PruProtect has announced new business premiums up 39% compared to the same period in 2011, in the provider’s annual results for 2011-2012.

It also claimed new business sales of £36.4m and an operating profit of £16.9m, up from a loss of £7.8m last year.

The surge in new business builds upon the insurers market share, which has grown from 4.6% in Q1 2010 and 5% in Q1 2011 to 8.7% in Q1 2012, according to the Association of British Insurers.

Herschel Mayers, CEO at PruProtect also announced the firm was developing products aligned to the wealth management process, but would not be drawn further.

He added: “New business levels have risen once again as we tap into new sectors of the market and build on relationships our business consultant team have already established.

“I have no doubt this success will continue through the next financial year and beyond.”

PruProtect is also currently recruiting another 20 business consultants in an adviser support role and intends an increase in adviser training and marketing initiatives.

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