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Ecclesiastical gap-fills with NU stakeholder

Ecclesiastical Insurance is to offer Norwich Union&#39s stakeholder in a gap-filling arrangement following the relaxation of polarisation.

NU&#39s stakeholder will retain its NU branding but will sit alongside Eccles-iastical&#39s existing range of products.

It will be sold by Ecc-lesiatical&#39s sales team dir-ect to consumers.

Ecclesiastical says it did not have the strength to offer a stakeholder of its own because of the low margins and it had to look to an outside provider.

It says the changes to polarisation happened at the right time to give it the opportunity to make a play in the stakeholder market.

Ecclesiastical currently has no further plans to white-label products.

The company says it chose NU because of its financial and brand str-ength, fund performance and charging structure.

NU hopes this alliance will give it the opportunity to develop its individual stakeholder business.

Ecclesiastical financial services division general manager Mark Good-ale says: “We wanted to offer our customers quality stakeholder pensions alongside the portfolio we already provide.

“This stakeholder represents a good deal and we consider the brand values of NU to be in keeping with our own ethos.”

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