Article date: 13 May 2003
According to this year’s Swiss Re Term & Health Watchsurvey, published today, Norwich Union has retained its marketleading position for term sales for the third year running and hasscored a league double by coming top for individual criticalillness sales.
The annual Term & Health Watch survey by Swiss Re isconsidered by many providers to be the leading market survey of newindividual protection sales in the UK life and health market.
The results for term sales show that last year Norwich Unionunderwrote over 420,000 term policies, which equates to over 1,600policies per working day in the UK. Turning to critical illness(CI) sales, the Swiss Re survey results show that new sales acrossall providers have broken through the one million barrier with morethan 1.1 million policies sold, this represents a near 34% increaseon sales in 2001. Norwich Union was responsible for nearly aquarter of all the policies sold with over 225,000 Norwich Unioncritical illness policies sold last year.
Willie Mowatt, director of product development at Norwich Union,said: "Norwich Union is delighted to have topped both league tablesfor term and critical illness sales. We will constantly strive toimprove our products and services to ensure we maintain our marketleading position in the protection market. It is encouraging to seethat more and more consumers are now making sure their mostprecious asset – their family - is properly protected."
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Notes to editors
- Norwich Union is the UK’s largest insurer. It is aleading provider of life, pensions and investment products and oneof the leading IFA providers. IFAs provide around 75% of thecompany’s long- term savings business.
- Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco Personal Financeand The Royal Bank of Scotland Group.
- Norwich Union’s news releases are available on the Avivaplc website at www.aviva.com.