L&G in Intelligent Finance life insurance tie-up

Fri, 27 Apr 2007

The successful Edinburgh based online bank and financial services provider Intelligent Finance signed an agreement with the insurance company Legal and General for them to become the solitary provider of life insurance products for customers of the bank .

Legal and General were said to be delighted with the deal, with the chief executive, Tim Breedon, claiming it as another example of L&G insurance distribution expansion. The insurer has recently announced booming life insurance and pensions sales (up 27 per cent) across all sectors.

Intelligent Finance were also excited about the prospects, with a spokesman reportedly commenting: "We're looking forward to working with Legal and General, which has to be one of the strongest players in the sector, and expand our product offering to our direct customers later this year."

Life insurance deals between major insurers and distribution outlets seem to be becoming more common.
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