Glasgow-based friendly society Scottish Legal Life ceased writing new business on 23 May 2002. The c...
Glasgow-based friendly society Scottish Legal Life ceased writing new business on 23 May 2002. The company specialised in the provision of mutual investment bonds and currently has around £228m of funds under management. After undertaking a strategic review, it was determined that the cost of writing new business was too high and was impacting on the returns available to existing policyholders. As part of a major costcutting exercise, Scottish Legal Life is to axe its sales and marketing departments, leading to the loss of 37 jobs in the UK and Ireland.
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