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Advice is winner as Lifesearch set for Asda deal

Lifesearch is close to winning the contract to sell life insurance through Asda after going head to head with Hargreaves Lansdown and Norwich Union in a three-month bidding war.

Hargreaves Lansdown pulled out of the race last week and Norwich Union is understood to have lost the bid to Lifesearch, which will be selling life insurance through an advised panel sales process.

Asda confirms it has chosen a company but stresses that the decision is subject to board approval.

Hargreaves Lansdown was understood to have been bidding to sell life insurance direct to the customer through a provider panel.

Lifesearch has been a strong supporter of Money Marketing’s No Advice No Protection campaign which aims to raise awareness of potential consumer detriment resulting from non-advised protection sales.

Scottish Widows announced it would be ending the contract to sell life insurance through Asda in September because the volume of sales was not as high as it had expected.

An Asda spokeswoman says: “We have reached the end of the tendering process. It has been three to four months and we have deliberately taken our time because we wanted to offer something different and have been trying to think creatively. We cannot name the company we have chosen to do business with just yet.”


Balls announces FSA board shake-up

Treasury Economic Secretary Ed Balls has announced a number of changes to the membership of the board of the FSA including the appointment of two new non-executive directors.Former Under Secretary at the US Treasury and executive vice president of the Bank of New York Federal Reserve Peter Fisher and former vice president of business transformation […]

Learn from experience

The recent report on workplace education makes my blood boil. In short, it suggests that the level of education of workers new to the workplace is poor and employers should redress the failings of the current school system.

Reit generation

The introduction of Reits next year comes as investors seek diversification away from equities and gilts.

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White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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