PDF《Pure Protection Contracts》

46 providers provided pure protection contacts, with

19 providers providing all three product types. 5. Top five provider firms

7 Pure Protection Contracts Product Sales Data Trends Report Top

5 provider firms Top

5 provider firms Top

5 provider firms 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Critical illness Sold As a Rider Benefit Income Protection Standalone Critical Illness

26 remaining firms

31 remaining firms

22 remaining firms Figure

3 below shows the percentage market share by product for selling firms. Figure 3: Pure protection contracts by selling firms category C April

2007 to March

2008 Source: FSA pure protection contracts PSD;

FSA internal categorisation of firms derived from their authorised activities Financial advisers and brokers were the main type of selling firm for all three pure protection products, accounting for 61% of sales (2006/07 C 56%). They accounted for around 65% of the sales of Critical Illness Rider Benefit and around half of the sales of each of the other two products. Banks and building societies were the second largest seller of pure protection contracts, accounting for around 30% of the sales of Income Protection and just over 20% for the other two products. 26% of all Standalone Critical Illness products were sold by insurance firms themselves. 6. Analysis of selling firms category

8 Pure Protection Contracts Product Sales Data Trends Report 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Critical Illness Sold As A Rider Benefit Income Protection Standalone Critical Illness Financial Advisers &

Brokers Banks &

Building Societies Insurance Firms Other Entities Figure 4: Selling firms total sales concentrations C April

2007 to March

2008 Source: FSA Pure Protection Contracts PSD Figure

4 illustrates the distribution of firms selling protection contracts in 2007/08. A total of 8,967 selling firms sold these products in the period. A significant number of selling firms (57%) so........