Legal & General is linking up with Powergen in a bid to sell stakeholder pensions to the electricity...
Legal & General is linking up with Powergen in a bid to sell stakeholder pensions to the electricity generator's business customers.
Powergen has around 250,000 business clients and L&G will get access to the firm's database of corporate customers to help it market stakeholder pensions. L&G is also in talks with Powergen to allow the generator's 7,000 staff access to financial products including Isas and stakeholder.
Under the deal, Powergen will be able to sell gas, electricity and telephony services through L&G's estate agency links, where it has around 1,500 outlets. Powergen will also market its utilities package to L&G's 6,000 staff in the UK.
Robin Phipps, group retail director at L&G, said: "The Powergen relationship is cost-effective, underpinning our commitment to competitive prices and quality products and services.
"This approach means that both customers and companies will share the benefits. The L&G presence in the housing market is a powerful platform for selling Powergen's energy and telecoms package to those who are in the first throes of moving home."
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Ceremony will take place 13 November