Co-op to sell Life Insurance and Pensions Branch for £219 Million
Customers of the Co-op will no doubt have felt their ears prick up today as the firm revealed plans to sell the life insurance and pensions arm of its business to Royal London, the country’s largest mutual life and pensions company, in a deal expected to boost the possibility of it landing more than 600 Lloyds branches.
The move will be of interest to over 2 million life and savings customers, which it has acquired since its formation in 1867. Subsidiaries which will be transferred across to Royal London include CIS Unit Managers, a unit trust business.
The Co-op is also speculated to be considering other asset sales, including its read more »
Aviva To Sell Life Insurance Through Tesco Bank
Insurance provider Aviva, will soon be selling life insurance and critical illness policies through Tesco Bank later this year. Policies will be sold online, over the telephone and there will be leaflets in 2, 900 Tesco stores as well.
David Barral, CEO, Aviva, UK and Ireland Life said: "This is a fantastic opportunity for two household names to deliver a real benefit for millions of people across the UK who have no family protection in place.
"We know too well the challenges families face when they lose a loved one or experience a critical illness, but having financial protection in place can provide some comfort and stability at a read more »
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