Scottish Life has confirmed it is setting up a stand-alone protection business led by former Scottish Provident head of marketing and business development David Robinson.
In a move first reported by Money Marketing, former ScotProv head of product marketing Roger Edwards is also joining the team in a similar role. Edwards was a key figure in ScotProv and his appointment will be seen as a major coup for ScotLife.
Money Marketing revealed last month that ScotLife was starting up a new protection business and looking to recruit from ScotProv.
Other staff who have joined from ScotProv include marketing manager Susan Sneddon, IFA head of field sales Andy Peters, senior finance manager Alastair Lonie and head of human resources Tracey Ashworth-Davies. They have all joined the executive team of the new ScotLife business in similar roles.
ScotProv owner Abbey National has issued a warning to ScotLife's parent company Royal London not to poach its staff because of contractual agreements made in the bidding for ScotProv. ScotLife says its appointments were made legitimately.
The new business is yet to be named but will have products on the market by the middle of next year.
ScotLife joins the ranks of ScotEq which launched its Protect business at the start of the year. Standard Life has also announced plans to bolster its offering. Skandia and Norwich Union have been building their protection ranges.
ScotLife chief executive Brian Duffin says: “With the financial muscle of Royal London and the strong position of the Scottish Life brand in the IFA market, this new venture will contribute to the continued development of the protection market and will be well placed to successfully challenge existing providers.”
Duffin profile, p39