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Scot Wids terminates Asda partnership

Scottish Widows is terminating its agreement with Asda to sell life insurance through the supermarket chain.

The provider says the partnership which began in October 2003 has come to an end because the volume of sales was not as high as Scottish Widows had expected.

Existing policyholders will be unaffected by this and Scottish Widows will continue to honour these customers’ policies.

The two firms are parting company in what Scottish Widows has called an amicable agreement.

Scot Wids will attempt to redeploy all staff involved on its side wherever it can.

Protection marketing manager Nick Kirwan says: “We are ending our relationship with Asda. This is a mutual agreement. From our perspective this has not reached critical mass and is not working out the way we had hoped.”

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