We have reached an agreement with Lloyds Banking Group (subject to regulatory approval) for them to buy Cavendish Online.
This acquisition will enable Cavendish Online and Lloyds Banking Group to better support existing Halifax, Lloyds Bank and Bank of Scotland customers’ protection needs by providing advice and guidance at key moments.
Cavendish Online will continue to offer insurance broker services to customers through its existing online and offline distribution channels, operating as a separate company within the group, retaining autonomy over its pricing and business model and will be as committed to the Relentless pursuit of customers’ best interests as we have been since the company was started.
“We have both the opportunity and the responsibility to improve our customers’ financial resilience. 60% of UK adults have no form of life cover and just 12% have cover if they fall critically ill. Our acquisition of Cavendish Online will enable us to help more of our customers at the times when we know they value advice.”
Chief Executive of Scottish Widows and Group Director, Insurance and Wealth, Lloyds Banking Group
John Nelmes, Director of Cavendish Online added:
“Since the company was founded in 2000 by Ian Williams, our goal has always been to relentlessly pursue customers’ best interests through the provision to provide simple, affordable and accessible protection products and advice. That’s why we are looking forward to working together with Lloyds Banking Group to grow our business and ultimately help protect more UK families.”
Director of Cavendish Online