by Gill Montia
Story link: Sun Life of Canada closes to new UK business
Sun Life Financial of Canada, UK is closing to new business.
The life and pensions provider says it has “refocused its approach” and from 3rd December 2010, will solely offer products and services to its existing customers.
Put another way, although the company will continue to offer additional business to existing customers, it will no longer offer products to new customers.
Chief executive officer, Janet Fuller, explains: “As a consequence of volatility in the economic landscape and the continuing high degree of uncertainty in the world about capital and other business requirements, we have decided to focus our resources on our existing customers in the UK.”
She adds: “IFAs also play a valuable role in servicing our customers, and we will maintain our important relationships with them.”
Approximately 100 jobs are likely to be affected by the change.
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