Life assurer MGM Assurance today completes its re-brand and pledges to target the IFA market.
The UK firm will now be called MGM Advantage and aims to become a top-three provider of enhanced annuities through its new Designs for Retirement operating unit.
It says its IT systems have been “completely re-modernised” adding its distribution channel has been refocused to sell products through independent advisers.
Former HBOS executive, Craig Fazzini-Jones, has been recruited to head the annuities business unit, reporting to Chris Evans, chief executive of MGM Advantage.
Evans says: “We believe that consumers aren’t getting the widest range of options they need at retirement, so we’re preparing to make the most of our mutual status to truly deliver great value products.”
Fazzini-Jones adds: “Two thirds of UK consumers with maturing pensions still don’t shop around to make sure they get the very best possible retirement income.
“Choosing an annuity is a decision consumers need to get right, and MGM Advantage wants to be able to help consumers who are approaching retirement to do exactly that.”
Designs for Retirement offers a 45 day quote guarantee, a customer care line counseling service and no medical report for annuities up to £300,000, among other benefits.
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