LV= has reported protection sales of £96 million in the insurer's interim results for the six months ending 30 June 2014.
This was a slight drop for the half of 2013 where sales reached £97million.
In a statement accompanying the results, LV= said: "Protection sales are comparable to 2013 and we continue to be the number one provider for income protection policies sold through advisers, a further demonstration of the strength of the LV= brand, and our customer focused proposition."
Myles Ryx, managing director of protection at LV said: "It is a dip, we are a fraction down year on year. We saw a lot of dislocation in previous years from the RDR and gender-neutral changes. It would round in a different way but essentially we've written the same volume of business, written more value from that business, the profits of business are slightly up and the volume is flat.
"We would hope for a more benign period having our share of regulatory change and the retirement business this year having its share. Expectation would be we would hope no more significant regulatory impact and economy wise, a gentler recovery to the housing market would be good for the protection market and advisers."
In April the insurer enhanced its critical illness cover and in June it launched a new personal sick pay policy.
Across the life and pension business underlying operating profit decreased to £7 million (H1 2013: £11 million.) LV= said this reflected lower margins on enhanced annuities sales and increased sales of less profitable fixed term annuities.
Meanwhile LV= revealed a new business contribution of £6 million (H1 2013: £5 million)
Total life business sales increased by £55 million (9%) compared to H1 2013 (£662 million v £607 million) measured on a present value of new business premiums (PVNBP) basis.
On the protection market Richard Rowney, managing director of life and pensions at LV= added: "My view would be we would continue doing what we've down, historically we are market leaders in the advised income protection space and we still see that as an area where we can to launch into new products and new channels.
"You will see us try to innovate and dominate in that space. In the protection market, we predict a small amount of growth next year, anything we can do to use our brand and work with advisers, we will push that forward. We will look for the propositions and channels as they emerge.
