Sales of new individual income protection policies rose 16% year-on-year to hit 247,000 in 2023, according to new figures from insurance and investment provider trade body the ABI.

A quarter of working adults without income protection would like to have it, according to financial resilience research from protection specialist LV=.

Cirencester Friendly chief executive officer Paul Hudson is to retire from the firm after 25 years at the helm.

Life insurance claims rose by 17% in 2020 at protection provider Aegon.