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Bupa IP records 38 per cent increase in new business in 2008

Bupa Individual Protection recorded a 38 per cent increase in new business annual premiums during 2008, up 13 per cent on 2007.

The protection provider saw an increase across its critical illness, income protection and life assurance products.

Bupa IP head of product development and marketing Steve Casey says: “To report a 38 per cent increase in such unpredictable economic times is credit to our supporting intermediary partners, the quality of our products and our continued commitment to innovation.

“We don’t intend to sit back on our laurels. We will continue to develop and improve our products to provide customers with comprehensive insurance cover when they need it most.”


FTSE retreats after early gains

The FTSE 100 has closed 0.31 per cent higher at 3,817, following a promising open of 3,812 with late retreats wiping out earlier gains in the financial sector.

Split picture for Friends

Friends Provident has posted European embedded value full-year profits of 420m, up from 16m in 2007, but suffered an 871m loss on an international financial reporting standards basis and a 500m deterioration in its capital position since December 2008.

Standard cuts with-profits values

Standard Life has cut the surrender and transfer values of many of its with-profits plans by 5 to 8 per cent due to poor investment returns.


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