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ScotEq aims to be force in individual protection

Scottish Equitable is entering the individual protection market from the start of 2001 with the aim of becoming the top player within five years.

The insurer aims to build business on the back of its strength in the IFA pension market.

ScotEq claims its product range, including personal, mortgage and individual business protection plans, will make it easier for IFAs to write protection business.

There will be particular emphasis on business protection, as the life office already provides group personal pensions and employee benefits to corporate clients.

ScotEq says it is attracted to the individual protection market because it represents a growth area for both the company and IFAs.

One of the main areas where ScotEq believes it has a competitive advantage is in underwriting strength following parent company Aegon&#39s acquisition last year of Guardian Financial Services, which has been integrated into ScotEq.

ScotEq says Aegon will provide it with an outstanding level of resources, which it believes will ensure success.

Director of business integration Peter Dornan says: “This market has traditionally been dominated by a few major players but we are totally committed to becoming a key player and to providing IFAs with a realistic alternative to what is already available.”

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