Royal London is to launch a direct to consumer proposition next year, comprising 'basic' protection and savings products that do not require advice.
The new business, which will be launched under the Royal London brand, will be launched in response to a recognition "there are many people who are not in the advised market that will benefit from having access to basic financial products".
The move will also create 70 new jobs, the provider said.
Phil Loney, group CEO, said: "The launch of our direct to consumer offering is another important step in driving our company forward and realising our ambitious business strategy.
"These products mark a logical extension to the group's overall offering and will help to diversify our customer base.
"Our new direct to consumer products will complement our existing range sold through advisers by providing simple savings and protection products to consumers who do not seek the services of advisers before making financial decisions.
"We are fully committed to the intermediary market and recognise the importance and value advisers provide to clients with more complex financial needs. Intermediaries remain the most significant distribution channel for our business."
