Article date: 10 May 2002
Norwich Union was the UK’s largest writer of regularpremium term assurance business in 2001, according to Swiss Re Life& Health’s latest TermWatch report released onWednesday.
Across all distribution channels, a total of 313,449 newpolicies were issued by Norwich Union in 2001 - the first timeTermWatch has reported the 300,000 barrier broken for sales.
This gave Norwich Union approximately 20 per cent of the regularpremium term assurance market for 2001.
A total of 203,548 of these policies were placed with NorwichUnion by IFAs - an increase of nearly 12 per cent on 2000.
Commenting, Peter Hales, sales and marketing director forNorwich Union, said: “An increasing number of people arerecognising the value of purchasing regular premium term assurance,and Norwich Union is the clear number one choice for IFAs in thismarket.
“The cost of term assurance has been coming down for anumber of years, and offers excellent value for money. The launchlast year of our flexible mortgage term assurance has helpedreinforce Norwich Union’s position as a leadingprovider.“
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Notes to editors
- Norwich Union is the UK’s largest insurer. It is theUK’s largest provider of life, pensions and investmentproducts and one of the leading IFA providers. IFAs provide around75% of the company’s long-term savings business.
- Norwich Union has strategic alliances with over 20 buildingsocieties and other leading UK brand names including TescoPersonal Finance Limited and The Royal Bank of ScotlandGroup.
- Norwich Union’s news releases are available on thisinternet site
- A selection of images is available from the CGNU Newscast siteat www.newscast.co.uk
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- Swiss Re Life & Health Limited is the UK operating companyof Swiss Re Life & Health, the world’s largest life andhealth reinsurer. Swiss Re Life & Health is a specialistglobal division of Swiss Re. The division delivers specific riskmanagement solutions to its clients - life and health insurersworld wide - across a wide spectrum of products. Headquartered inLondon, the division operates through a network of 37 offices inover 30 countries, serving clients in virtually every country inthe world.