Britannic Assurance is setting up a brand to sell retirement products.
The life office is recruiting for the venture, which will be based in Redhill, Surrey. The products will be marketed under a new name and logo and are expected to be backed by a marketing campaign
The move comes despite a multi-million pound marketing campaign aimed to push the Britannic brand to the public and IFAs.
Earlier this year, Britannic launched itself into the IFA market with its portfolio bond, a single premium unitised with profits bond, which helped push up profits by a third for the first half of the year to £35.8m from £26.2m in the same period of 1998.