Record results for PruProtect
New business premiums rose by 39% compared to the same period in 2011 while annualised new business sales totalled £36.4m.
Meanwhile, there was a 59%increase of policies in force as at June 2012 – covering 132616 lives in total.
Herschel Mayers, chief executive for PruProtect, said: “New business levels have risen once again as we tap into new sectors of the market and build on relationships.”
Gross operating profit hit a record high at £16.9m, up from a loss of £7.8m made in the same period in 2011.
Mayers added: “To have delivered such an impressive profit in such a testing economic environment is testament to our ethos of innovation and added value.”
The protection provider has enjoyed much industry recognition this year by picking up several gongs including the Innovation Award at the 2012 Protection Review for the second year running.
A new product is due to be launched in November but details are being kept quiet with Mayers only revealing it will be something “exciting”.