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Britannia Life Insurance

BRITANNIA LIFE INSURANCE

Britannia Building Society started in 1856 & is based in Staffordshire. Britannia Life Insurance was set up to help provide life assurance for their customers via their branch network. From mid 1980's to 1990, Britannia building society was an independent financial adviser. From 1990-1999 it sold over 100,000 endowments through its own insurer, Britannia Life & many were reportedly in shortfall, making it one of the poorer performing life offices. Britannic, a separate company, bought Britannia Life in 1999 and renamed in Alba. Britannia Life became Alba Life Limited just as the market slowly moved from endowments to repayment mortgages. In 1999 Britannia Building Society sold its life assurance business division to Britannic Assurance.

In 2009 Britannia voting members supported the proposal to merge with The Co-operative Financial Services, which is part of The Co-operative Group. Britannia sold their lifecover products through their network via Axa Sun Life Insurance which is now part of Friends Life.

Britannic Assurance traces its origins back to 1866 in Birmingham. In 2007, a funds merger programme transferred the funds of Britannic Assurance plc into Phoenix Life Limited - then in 2008 Pearl Group Ltd acquired Resolution Phoenix Life Group which included administration of plans from many old insurers including Scottish Provident, Century Life, Scottish Mutual, Scottish Provident, Crusader Insurance, Phoenix, Crown Assurance, Royal Sun Alliance, Life Assurance of Scotland, Mutual Life Assurance,FS Assurance, Pioneer Life Assurance, London Life, NPI,  Allianz Cornhill (Cornhill), Sentinel Life, Swiss Life, Colonial Life, Cornhill & Alba Life. In 2009, the proposed merger of Friend Provident Uk & Resolution was formally agreed subject to regulatory agreement.

 Britannia Life Assurance products via Friends Life includes Critical Life cover, Income Protection, mortgage protection , term assurance plans. 
 
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Article on:Britannia Life Insurance
 ~ for more information visit www.britannia.co.uk*
( * Note: You are now leaving the regulated site of Uk Life Insurance Quotes. Neither ourselves, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site.)
 

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