Legal & General secures new partnership with Sainsbury's Finance.
17 March 2011
The new commercial agreement will see Sainsbury’s Finance continue to sell a tailored range of Legal & General life cover products, including Life Insurance, Life Insurance with Critical Illness Cover and Over 50’s Life Insurance plans.
Legal & General have had a successful relationship with Sainsbury’s Finance since 2004. Key to this success has been an innovative and customer focused, supermarket banking approach to marketing Direct Protection. This has included promotion throughout the 800 stores within the Sainsbury’s supermarket chain, as well as the Sainsbury’s Finance website and via direct mail.
he partnership has utilised the popular Nectar loyalty incentive scheme as part of the supermarket bank's strategy to reward the shopper for also banking with them. Today, customers can now benefit from a bespoke and dedicated, online and offline service that enables them to purchase the competitively priced Life Insurance cover they need, easily and quickly and with access to advice if they need it.
Commenting on the partnership Chris Last, Managing Director, Legal & General Bank and Building Society Distribution said,"Sainsbury’s is a key strategic partner for us in the non-traditional financial services sector so I'm delighted we have been able to renew our partnership. It is testament to the strength of our relationship that we have been able to demonstrate how our value for money products and strong brand can deliver real added value. We will be working on extending the range of products available to Sainsbury’s customers during 2011."
David Fisher, CEO, Sainsbury’s Finance said, "Our partnership with Legal & General has been extremely successful over the last seven years. They are a trusted brand with an excellent reputation in this market; credentials that are important to us and the Sainsbury's customer. We will continue to benefit from a strong relationship with a partner whose desire to provide innovative and competitively priced products to the Sainsbury's customer matches our own.”
Notes to editors
This agreement is subject to contract. The information contained in this press release is intended solely for journalists and should not be relied upon to make any financial decisions.
Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Finance provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top Best Buy tables and regularly win awards for quality, price and service.
Sainsbury’s Finance recent awards include Best Overall Online Provider, Best Direct Personal Loans Provider, Best Online Credit Card Provider, Best Online Life Insurance Provider, Your Money 2010.
Sainsbury's Finance is a joint venture between J.Sainsbury plc and Lloyds Banking Group.
To view the latest press releases and product information, please visit the Sainsbury's Finance online media centre at www.sainsburysfinance.co.uk/media
For more information please contact:
PR Manager, Legal & General Group
t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574
About Legal & General
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Registered in England 166055.