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Prudential is set for return to CI market

Prudential looks to be taking its first tentative steps towards re-entering the critical-illness market in earnest after the pipeline drama that left it badly scathed last year.

Pru incurred IFA wrath after it raised premiums and withdrew guarantees on new and pipeline critical-illness business last April.

But following an apology to IFAs by UK chief executive Mark Wood last September, Pru is in talks with IFAs with a view to again becoming a force in the market.

Prudential spokesman Darragh Leeson says the firm is reviewing all aspects of its product and service proposition with the aim of “building a stronger presence” in the market this year.

Leeson says that while IFAs were upset with Pru&#39s actions last year, he says if it can come up with a best advice, cost-effective proposition, it will have to be considered as an option.

Head of protection Paul Cowman says Pru will only cons-ider a significant push if it has a product that IFAs want to sell.

He says: “The market is driven by price and service and it is in getting these elements right that our ambition to return to the top quartile lies.”

Lifesearch senior technical manager Kevin Carr says: “If they come back with a strong offering and a competitive price, we would be more than happy to consider it.”


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