UK life insurance marker will soar in 2007

Tue, 06 Feb 2007

According to Aviva, one of the foremost insurance groups in the world and the owners of Norwich Union, anticipate a growth of between 5 and 10 per cent in the life insurance market during 2007.

The news, which was reported following a conference call with reporters, came from Mark Hodges, the head of Aviva UK life insurance business. Apparently, the return to form for the life insurance market follows fading impact from 2006 pensions reforms. Aviva, according to Hodges, will probably perform ‘at least’ as well as the life insurance and pension market.

The confident prediction followed an earlier report that the largest insurer in the UK recorded a 25 per cent leap in life insurance and pensions sales during 2006. They put this down to reforms allowing people to save more for retirement, as well as the spreading awareness of the need for people to save money.
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