NPI LIFE INSURANCE
National Provident Institution (NPI) Insurance was founded in 1835. Over the next 100 years, the NPI evolved to become a popular provider of Uk life insurance and financial services provision.
In 1999 National Provident Life Limited (NPLL) was established, ready to take over the existing business of NPI subsequent to its demutualisation when the organisation was taken over by Australian financial giant AMP. In 2003, Pearl Insurance, NPI and London Life were de-merged from AMP to become part of a new UK company called HHG.
In 2004, the HHG board accepted an offer for Pearl, NPI and London Life. In 2005, the 3 companies became part of the newly formed Pearl Group Limited. Pearl's primary focus is to no longer seek new business but look after over £10 billion of assets in closed life funds on behalf of its 2 million policyholders.
In 2008 Pearl Group Ltd acquired Resolution which includes administration of plans from Scottish Provident, Scottish Mutual, Phoenix, Royal Sun Alliance, Crusader Insurance, Swiss Life, Britannic Assurance, Cornhill & Alba Life formerly Britannia life. Pearl Group are owned by Sun Capital & TDR. At the end of 2008, Royal London acquired a range of businesses from Pearl that includes Scottish Provident.
In 2020 NPI National Provident old plans are now mainly adminstered by Phoenix Life.
Once NPI Insurance was a major force in the mortgage protection market place but then slowly disappeared from selling protection as they as the mortgage market slowly moved from endowment to repayment mortgages.
The old NPI Life UK products included personal & business protection cover, mortgage protection & term assurance.
Looking in 2020 to compare old NPI Life Assurance products against other Uk Insurers
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Article on: NPI Life Insurance ~ for more information visit www.npi.co.uk * phoenixlife.co.uk
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