Skandia is dropping its multi-million-pound sponsorship of the Cowes Week sailing extravaganza after a 14-year run.
Sponsorship manager Tim Sewell says the firm will not renew the contract when it expires in August 2008.
He says Skandia will continue to be a long-term investor in sailing through sponsorship of Skandia Team GBR, currently in training for the Beijing 2008 Oly-mpic Games and as personal sponsors to Iain Percy and Andrew Simpson of the Star campaign team.
The regatta has become synonymous with Skandia, which has played host to around 10,000 industry guests over the years through its corporate hospitality, including IFAs, journalists and corporate guests.
Sewell says: “2008 will be the last year after 14 years, which, in any corporate sponsorship terms, is a very long time. We felt it had got to the point for natural change but we will remain committed to sailing.”
CBK principal Peter Chadborn says: “What a shame if they are not doing this any more. It is always one of the best corporate events as it allows you to see into a world that is something out of the ordinary.”