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Fortis to hold off on move in protection

Fortis is understood to have postponed its entry into the UK protection market until May after delays in agreeing product specifications with reinsurers Swiss Re and SCOR.

The Belgian insurer is still planning on entering with a combined life, critical-illness and income protection plan as part of a menu-based proposition. The product will automatically top up to the full sum assured after paying out on a critical-illness or income protection claim and will have a maximum sum assured of £250,000.

It is now believed the firm will cover 41 critical conditions, more than any provider except PruProtect which covers 154.

Fortis is thought to be planning to soft-launch with a big adviser firm to ensure its systems can cope with a high level of demand.

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