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NU turns to whole of life

Norwich Union aims to combat competition in the protection market with the launch of a non-profit whole-of-life product.

NU is looking at the whole-of-life market following a challenging first quarter which saw protection business fall by 18 per cent to 235m for the first quarter of this year.

Head of risk product development Lawrence Jackson says he is researching the investment feasibility of a non-profit product, with a view to starting to build it in-house within the next few weeks for a launch next year.

He attributes the fall in protection sales to the fact that many advisers have been moving away from the sector and returning to investment sales since markets became more bullish.

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