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.
Funeral plans: News update: 29 October 2010