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Tep market booming to £500m

The Association of Policy Market Makers says the traded endowment policy business done by its members will pass the landmark figure of £0.5bn this year.

The APMM and IFAs are predicting this figure will rise substantially as more policyholders receive their endowment review letters.

The association says its members have seen a rise of more than 11 per cent in the first half of this year which brings the expected total business up to £500m from last year&#39s £450m.

The APMM says IFAs have introduced around 50 per cent of this business.

APMM executive director Tim Villiers says: “The review letters will remind people of their policies but the full impact has not yethit home.”

Pretty Technical Services partner Jo Smith says: “I think as the letters go out it is quite obvious endowment owners will go out and seek advice from IFAs to be made aware of all the options, including the Tep market.”


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