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Swiss Life protection deal with Unum

Swiss Life UK has closed to new business after an admin agreement with Unum Provident.

Swiss Life UK&#39s group income protection claims portfolio is now reinsured with Unum while Claims Services International, a Unum subsidiary, is administering the claims.

Unum will become a Swiss Life network partner, meaning that Unum can provide group risk cover for the UK-based divisions of multi-national companies which have worldwide insurance arrangements with the Swiss Life Group.

Swiss Life had planned to sell the whole group protection business to Unum but this was move was abandoned when the deal was referred to the Competition Commission by the Office of Fair Trading.

Swiss Life UK head of corporate communications Richard Davies says the new deal is very different, focusing on claims rather than policies.

PIFC Consulting head of technical services Mike Dowding says: “It is good to see that the future of the Swiss Life group income protection portfolio in the UK is secure as an ongoing entity. However, this still results in less choice for UK employers. Having said that, the international partnership is good news.”

Unum Provident head of public relations John Hutson says: “We are pleased that after many weeks of working closely with Swiss Life UK to have found a way forward that meets the needs and expectations of customers and other stakeholders.”

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