Lloyds Banking Group (LBG) has announced a deal to acquire protection distributor, Cavendish Online, for £12m.
Cavendish Online, a direct-to-consumer (D2C) provider of guided and advised life insurance, critical illness and income protection services, will become part of the Scottish Widows Group upon completion of the deal. LBG stated that the acquisition is part of its strategy to strengthen its client relationship and engagement, while targeting a position as a "top three" protection provider by 2025, as detailed in February this year. The banking group said it will continue to offer "mortgage-focused" protection advice through its branches, in addition to Scottish Widow-branded protection ...
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