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Co-op seeks buyers for life insurance subsidiary

The mutually owned Cooperative Group is planning a sale of its life insurance business as part of a reorganisation of its financial services division.

The Cooperative has a good name and many loyal customers, but has fallen behind the times with its life business that uses old-fashioned methods to sell cover that is far from leading edge. It mostly sells through a direct sales force, and is way behind competitors when using online methods to generate sales.

The Cooperative has appointed Deutsche Bank to look after the sale.

 

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Co-op seeks buyers for life insurance subsidiary
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