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03 Feb 2010 12:04
Skipton Building Society and Legal & General have today announced that they have entered a joint distribution agreement* for the supply of protection products. Skipton, the UK’s fourth largest building society, has chosen Legal & General to be the sole provider of protection products to its 850,000 customers through its nationwide branch network, contact centre and website.
Tim Breedon, Group Chief Executive at Legal & General said: “This strategic alliance with Skipton builds further on our current position as a leading partner provider of protection products distributed through High Street banks and building societies. Our strength in this market is built around our overall approach to partnership; bringing all elements of our organisation to the table to deliver innovative products, leading technology solutions and enhanced commercial value for both partners. We look forward to working with Skipton to demonstrate that our shared values will deliver tangible business results and a compelling offering to their customers.”
Skipton Group Chief Executive David Cutter said: ”We hope that moving from multiple protection providers to one, specialist, partner will enable us to significantly enhance the delivery of products and service to our customers. The partnership with Legal & General effectively means we will be able to offer them a ‘one-stop-shop’ for all their protection needs, coupled with market-leading flexibility, policies and premiums.”
Legal & General is the UK’s leading protection provider** and already has strategic alliances with the Nationwide Building Society, Yorkshire Building Society and Chelsea Building Society, as well as banking partners such as Barclays.
Notes to Editors:
*Subject to contract
**According to the Swiss Re Term & Health Watch 2009, report based on new individual protection sales in 2008
Legal & General
Legal & General Assurance Society Limited is authorised and regulated by the Financial Services Authority (FSA). Registered office: One Coleman Street, London EC2R 5AA.
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
Skipton
1. Skipton is the UK’s fourth largest building society, with approximately 850,000 members, £15.2bn of assets and a national presence represented by its 90 branches, covering the country from Aberdeen to Plymouth. It heads the Skipton Building Society Group, whose subsidiary companies have significant interests in estate agency and related businesses (through the Connells and Sequence groups); third party mortgage servicing (Homeloan Management); independent financial and related advisory businesses and support services to the mutual sector.
2. Skipton is the first UK-wide financial services provider to receive the Customer First Framework - a quality assurance standard aimed at putting the customer first.
Tracy Fletcher
Head of PR
Skipton Building Society
07867 851628
tracy.fletcher@skipton.co.uk
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