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.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till