Fidelity Life acquires FMG
Fidelity Life has purchased FMG’s life subsidiary, Farmers’ Mutual Life Limited.
Friday, March 2nd 2007, 6:28AM
FMG clients will have access to a range of Fidelity Life’s insurance products under FMG and Fidelity Life joint branding. These include life, trauma, disablement lump sum and income protection. A new rural income protection product will also be offered.
“In focusing on the continued growth of our core general insurance business, we decided that the life insurance aspect of our business would be better served by a specialist provider. We conducted an extensive search for the right partner to provide the best possible service and products to our life insurance clients,”FMG chief executive Gordon Smith says.
“We considered many factors when evaluating Fidelity Life as a potential partner, in particular their cultural fit with FMG, the quality of their product, and the ability for FMG to maintain its relationship with clients. Fidelity Life fitted the bill in all these areas.”
The jointly-branded products will be distributed by FMG’s life risk advisers to FMG clients.
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