UK insurers Tough life

The UK life insurance market has a problem. Consumers may be regaining some appetite for long-term savings and life insurance. But in absolute terms overall market growth is lacklustre. Moreover, some players – such as Axa, Aegon and Prudential – have ambitious expansion plans in the UK. The result? Aviva, the market leader, is warning of increased margin pressure in the second half. How should insurers respond to this situation? The traditional answer when a market is being crippled by cut-thr...