Windsor Life rebrands as ReAssure

Closed-book provider Windsor Life has rebranded as ReAssure.

A statement on the company’s website says the new name “reflects how different our business is now, how we have changed and our plans for the future”.

The change follows the transfer of around 500,000 Barclays Life customers to the closed provider in November last year.

ReAssure chief executive Graham Singleton says: “We’ve chosen a name which reflects how we want our customers to feel – reassured. Alongside the consistently good relative fund performance our customers have experienced, to support this we have undertaken significant investment in the company during the past two years, in both our staff and infrastructure.

“Delivering the right customer outcome is central to our business model and we will continue to make substantial investments in 2012, making it easier for our customers and their financial advisers to do business with us.”

The firm has regularly been in the headlines in recent years with advisers complaining about the provider’s service standards.

In March 2008, Hargreaves Lansdown reported Windsor Life to the FSA after at least 30 of its clients were left waiting for annuity payments and policy transfers.

In June 2009, research from the Annuity Clearing House revealed Windsor Life was the worst offender when it came to pension transfer delays, taking around 10 weeks to transfer pension money.

Singleton says the firm will be launching a secure online access for customers and their advisers to access policy information and execute certain transactions.

He adds: “We’ll be launching a new, online ’consumer panel’, a mechanism to get direct customer and financial adviser feedback on some of our planned changes and initiatives so we can continue to improve what we do”.