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Daily Insurance Industry News
Sunday 21st of January 2018
June 30, 2011

Bancassurance “core part” of revitalised Lloyds proposition

by Gill Montia

Story link: Bancassurance “core part” of revitalised Lloyds proposition

Bancassurance “core part” of revitalised Lloyds proposition

Lloyds Banking Group says it intends to make bancassurance a core part of its proposition, and will therefore be building specialised advisor teams to better address customers’ needs.

The part taxpayer-owned bank has today announced the results of a strategic review that will cost 15,000 jobs worldwide and result in £1.5 billion of annual savings by 2014.

With £2 billion freed up for investment, Lloyds intends to revitalise its Halifax brand and widen its product range to SMEs, to include insurance and wealth.

The bank is also committed to maintaining its UK branch network at the current level and will not offshore further UK permanent operational roles.

According to group chief executive, António Horta-Osório: “We will unlock the potential in this franchise over time by creating a simpler, more agile and responsive organisation, and by making substantial investments in better-value products and services for our customers.”

 

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