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Co-operative Financial Services exits life business

Co-operative Financial Services (CFS) is ceasing to act as an underwriter of life business after a strategic review.

  • It has entered into talks with Royal London to sell its life insurance subsidiary
  • It plans to extend its partnership with AXA for the provision of in-branch financial advice that exists across the 248 branches of Britannia to its 90 Co-operative Bank branches
  • The 670 people in the field-based advisory team will be redundant.
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Co-operative Financial Services exits life business
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