PruProtect has said it is "bullish" about the future for the protection market and that it is aiming to be a major player in the UK market.
The provider also expects to introduce more new products this year and hinted that protection providers are likely to increase their marketing activity as the retail distribution review (RDR) approaches.
Herschel Mayers, CEO of PruProtect, told COVER the insurer saw encouraging signs for the short term health of the market.
"We do believe we can continue to grow and become a major player in the protection market," he said.
"And I'm pretty bullish about the protection market going forward.
"I think the RDR will have a positive impact, as will the increased granting of mortgages - although it's coming off a low base, but in short term I think it will pick up.
"So all those are positive signs for the protection market and we hope to gain market share and hope that the market will be growing as well," he added.
Mayers was speaking after revealing PruProtect's annual results that saw the provider take an almost 9% share of the IFA market in 2010/11 and increase its coverage to over 100,000 lives.
Much of this growth was achieved by increasing its distribution channels and being added to protection panels for networks and other distributors.
Although Mayers believes this will continue, he also identified other possibilities and pledged the provider would continue its trend of new product launches.
"I think the opportunity for us towards the end of this year is the implementation of RDR where I do think there will be a move towards protection business," he said.
"What we are really about is to innovate so we will come up with new products in the year.
"But we are also looking at our existing products and how we can improve them and add to them as well," he added.
Mayers concluded by noting that part of this opportunity would see protection providers, including PruProtect, increasingly targeting IFAs with marketing campaigns as the RDR deadline approached to remind them of their options through protection business.
And this, Mayers said, was likely to be reciprocated with December's implementation of gender neutral pricing, targeting certain customer groups who may be more or less affected by the changes.
