Nine in 10 (90 per cent) of Primis Network brokers in Northern Ireland expect to write more protection business this year, a survey has revealed.
The survey, which was conducted at a Primis Kick Off event in Northern Ireland, found brokers are optimistic about the protection market in 2026.
There was similar optimism in the mortgage space with 82 per cent of brokers anticipating to write more mortgage business this year.
LSL Financial Services sales director, Neil Hoare, said: “What stands out among Primis brokers in Northern Ireland is just how central protection is to growth plans this year.
“With nine in 10 expecting to write more protection this year, customer resilience and long-term financial security will be a major focus.
“Affordability pressures are the biggest concern for customers in Northern Ireland. Nonetheless, opportunities present themselves to brokers in the region with remortgaging, first-time buyers and, most notably, protection all identified by respondents as areas of growth.”
Respondents also shared their thoughts on the hurdles they expect to face in the upcoming year, with customer affordability being identified as the single biggest challenge – mentioned by 43 per cent.
This was ahead of economic uncertainty or unemployment, both of which were mentioned by 23 per cent, and the burden of regulation and compliance, mentioned by 16 per cent.
Furthermore, when asked where they see the greatest opportunity this year, brokers highlighted a mix across both mortgage and protection business.
In this area, remortgage activity was most frequently cited, mentioned by 29 per cent of respondents, followed closely by first-time buyer mortgages, identified by 24 per cent, and income protection (19 per cent).
Meanwhile, critical illness cover was identified by 12 per cent of respondents, while life insurance and general insurance were each mentioned by 5 per cent.
The research also found that expectations around interest rates underpin brokers’ outlook, with 86 per cent expect the Bank of England base rate to be lower by the end of 2026, with 73 per cent predicting a reduction of between 25 and 50 basis points.
tom.dunstan@ft.com
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