Cardif makes “key move” to acquire Direct Life

by David Masters

Story link: Cardif makes “key move” to acquire Direct Life

Direct Life & Pension Services has been acquired by Cardif Pinnacle.

Direct Life and its 200 employees is based in Chichester. It will continue operations from Chichester as a stand-alone branch of Cardif.

Direct Life offers term life and critical illness insurance, as will as other insurance products. It trades under than name DirectLife in the consumer market, and uses the name Lifequote in the financial intermediary market. Lifequote offers intermediaries life protection, income protection, and critical illness protection products.

Cardif Pinnacle’s chief executive, Paul Glen, called the acquisition a “key move forward”. He added: “[This acquisition] will enable us to increase the product solutions and services we can offer to a broader range of clients and customers. Cardif Pinnacle remains firmly committed to its existing core business.

“I welcome Mike Ward to our senior management team and look forward to working with him and his colleagues to help us deliver our growth strategy.”

Direct Life & Pension Services managing director Mike Ward said: “Being part of the Cardif Pinnacle Group is an exciting opportunity for us, which will reap benefits and rewards for our businesses, our partners and our customers.”