LV= monitors risk after huge G-day sales surge

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LV= is "intensely" monitoring gender split risks after reporting massive sales figures in the run up to G-Day.

The insurer's income protection sales were up 210% in the week leading up to the gender-neutral deadline, and critical illness and term assurance sales were up 195% and 177% respectively.

Mark Jones, head of protection at LV=, said: "There was an awful lot of marketing activity to get this message across before the deadline because with all the other issues going on, like RDR, advisers may not have engaged with it.

"The big thing now is the risk we did not have before. We have the issue of getting the gender mix right because attracting more of one gender could have a bad effect on bottom line."

Jones said there would be intense weekly monitouring before dropping down to monthly tracking as pricing volatility calmed down and a new norm was established.

He added LV= had thought about gender-targeted product innovation but that it would be some time before products of this nature came to market.

Michael Aldridge, sales director at London and Country, said: "LV='s proposition did stand out. I am not surprised it is among the highest sales figures but I am surprised at just how high they are. It communicated well through the gender change."

Aldridge added overall communication on G-Day had been too late and it could have been better if providers had collaborated more.

He said the firm was now busy trying to catch up with the pipeline business which was a positive but "exhausting".

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