Insurance companies in the UK are planning to increase their annual lending to property firms by more than one-third by 2017, as banks retreat from the sector.

Law firm DLA Piper has published a survey of 20 "mid-tier and senior executives" from insurers, including existing real-estate lenders such as Legal & General and Prudential's M&G Investments, and other insurers new to the sector. Its survey also took in representatives from industry bodies such as the Association of British Insurers, it said.