Lloyds Banking Group (LBG) has announced a deal to acquire protection distributor, Cavendish Online, for £12 million.
Cavendish Online, a direct-to-consumer (D2C) provider of guided and advised life insurance, critical illness and income protection services, will become part of the Scottish Widows Group upon completion of the deal. LBG stated that the acquisition is part of its strategy to strengthen its client relationship and engagement, while targeting a position as a "top three" protection provider by 2025, as detailed in February this year. The banking group said it will continue to offer "mortgage-focused" protection advice through its branches, in addition to Scottish Widow-branded protection ...
To continue reading this article...
Join COVER for free
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.