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Lifesearch link lifts Asda sales

Asda has seen protection sales increase by more than half year on year after teaming up with Lifesearch in January to offer whole-of-market advice to its customers.

The supermarket says 20 per cent of customers buy products such as income protection or critical-illness cover, in addition to life cover, since it has been offering advice. Sales are up by 54 per cent compared with last year.

Asda has begun distributing 100,000 free protection booklets to consumers to educate them about the different products available, what each product does and how to buy it.

The booklet, Protecting the Nation, gives details on life cover, income protection and critical-illness cover and is available from stores, Asda’s website and with policy documents.

The supermarket plans to expand its protection proposition outside its traditional customer base and aims to achieve double-digit year-on-year growth within five years.

Head of insurance and savings Gideon Ingham says: “We are really pleased with Asda’s performance and the customer response to Lifesearch has been extremely positive. The growth we have seen is a clear demonstration that moving from a single-tie model to one that accesses the whole market was the right move to make.”


Rubin to succeed Prince at Citigroup

Citigroup has appointed former US Treasury secretary Robert Rubin as chairman and former Schroders chief Sir Win Bischoff as temporary chief executive following the resignation of Charles Prince III. Citigroup says it must write down an extra $8bn-$11bn in leveraged and sub-prime loans.

Reality gap

We have now had over 20 years of regulation. There have been a dozen regulators, hundreds of consultative documents and thousands of pages of rules and yet very little has changed. There has been a huge, if unheralded, improvement in the professional standards of advisers. Apart from that, consumers have been burdened by a system that fails most of them.

Pink Home Loans COO to leave

Pink’s chief operating officer Elliott Stonehan has decided to leave the company to pursue his passion for oriental languages.Pink has decided to promote former head of marketing Neil Hoare to the position of associate director proposition development.In his new role, Hoare will assume responsibility for all products, services and propositions at Pink, along with IT […]

Barclays links to Swip fund

Barclays Capital has established a capital protected product linked to the performance of the Swip European real estate fund for investors with offshore bonds.


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