ProtectionMay 22 2013

Ageas Protect pushes through adviser services

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BySimoney Girard

Despite a “challenging” first quarter, the managing director of Ageas Protect affirmed the insurer’s commitment to the intermediary space, and said a core element of the company’s business development was to enhance its products and services for advisers.

Mr Spriggs said the insurer was “pleased” with the support it had received from its intermediary partners, but was hoping to build further on the progress already made.

He said: “The first quarter of 2013 has certainly had its challenges for the market following the RDR, gender pricing and tax changes at the end of last year.

“However, we continue to maintain focus on building our intermediary proposition, expanding our product portfolio to include business protection, ‘personal life of another’ and ‘best doctors’, as well as enhancing our online facilities to give intermediaries an increasingly efficient service that meets their client needs.”

His comments came as Ageas UK announced a strong growth in net profit over the first quarter 2013.

According to its results, net profit rose from £14.1m at the end of March 2012 to £19.4m at the end of quarter one this year.

Within life protection, Ageas Protect saw inflow increase by 41.3 per cent from £15.1m to £21.1m year on year, while new annual premiums decreased by 5.3 per cent to £8.5m from £9m year on year.

The group attributed this to a more subdued market following the implementation on 21 December of the European Union’s gender neutral pricing directive, and tax changes at the close of last year.


Mark Loydall, director of Loughborough-based Cambourne Financial Planning, said: “Ageas is not a company that has come across my radar to date. Before we would speculate on the products and services that it wants to roll out to advisers, we would like to get to know the company and its people, and find out more about what it does already in the intermediary space.”