Asda looking for new life insurance company

Thu, 21 Sep 2006

ASDA, the popular supermarket chain owned by American giant Wal-Mart were said to today be looking for a new life insurance partner, following the end of their three-year deal with the Edinburgh provider Scottish Widows .

The severance of their agreement together was amicable. Asda and the insurance firm decided to end their agreement after both sides agreed that the supermarket would be better off developing: "its life insurance offer with a new partner."

Scottish Widows were said to be unhappy about the growth of their business with the supermarket, and felt that Asda were not paying enough attention to promoting the product.

The protection marketing director at Scottish Widows, Mr. Kirwan, said: "You do need to make sure that the information is very prominent and you need to do more than just putting out a leaflet ."

Mr Kirwan went on to say that the low-profile advertising that supermarkets use to sell financial services products is not well suited to life insurance, particularly as it is not a necessary product. An Asda spokeswoman said: "We have been happy with where we got to with Scottish Widows, but three years down the line we have got a lot of experience and we want to take that and sharpen our offer and move it on."
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