Scottish Friendly and The Unisure Group announced a new partnership agreement which sees Scottish Friendly become the mutual insurer for Unisure’s UK Group Life division, in collaboration with the Group’s existing reinsurer, Allianz.
Headquartered in London, The Unisure Group provides international health and life insurance solutions to individuals and organisations, boasting a vastly experienced underwriting business unit. Scottish Friendly, one of the UK’s largest life offices, has been in existence for over 160 years. The partnership signifies a powerful alliance in the industry.
Alexander Manas, commercial director of Scottish Friendly, expressed enthusiasm for the collaboration, stating: “Our values are very much aligned, and we’re firmly focused on helping to support as many individuals and their families as possible. This partnership will help to further promote the importance of having adequate protection in place to insure against the unexpected happening.”
Dr. Graham Woolford, chairman of The Unisure Group, said the UK Group Life division anticipates great business results from the partnership. “Scottish Friendly’s business ethos aligns very well with ours, and they’ve grown significantly over the last few years. The fact that we boast a strong UK front, as well as a partnership with a company that is renowned for their rigorous due diligence, bodes well for increased broker confidence in our fast-growing brand.”
The partnership comes at an opportune time, as a recent Scottish Friendly study of 1,000 respondents aged 50+ found that 22% of customers were considering cancelling their monthly payments due to the cost-of-living crisis.
This highlights the ongoing financial challenges faced by UK households. Employers are increasingly recognising the impact of financial stress on employee productivity, engagement, and morale, making Group Life policies an essential component of employee wellbeing programs.
Lewis Twist, UK group life underwriter at The Unisure Group, added: “We’re passionate about employee benefits and we’re proud to be offering employers and corporates across the UK world-class service and products.”
