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Friends signs distribution with Countrywide

Friends Provident has payed £25 m in a deal with estate agency group Countrywide for the sole distribution of mortgage-related protection products.

At the same time the life company has sold its estate agency network to Countrywide for £21m.

Countrywide expects to receive £250m over the next 15 years from the agreement, which would see Friends Provident’s double the amount of protection business it writes.

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