After a period in the doldrums, life insurance
sentiment has returned to positive territory, according to a survey
from the Confederation of British Industry (CBI) and
PricewaterhouseCoopers (PwC).
Respondents to the survey said they
experienced stronger volumes of business during Q1 2012 and 95% saw
new business as having increased.
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The life companies’ confidence is not limited
to their predictions for business and revenue. The survey also
highlighted that employment intentions are extremely strong,
building on the increase reported in the previous survey.
Respondents said the availability of both
professional and clerical staff is also an increasing
challenge.
The survey said: “This not only reflects the
reported boom in new business, but also the range of investment and
regulatory projects the life companies are undertaking.
“Capital expenditure on IT is on an upward
track, driven not just by regulation but also by the search for
efficiency and the need for replacement.”
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