Cardif Pinnacle acquires protection insurer

Cardif Pinnacle has acquired Direct Life & Pension Services, a distributor of term life, critical illness, and other protection insurance products.

The company operates under the trading names of Direct Life, in the direct to consumer market, and Lifequote, in the financial intermediary market. Lifequote offers life and critical illness protection products to intermediaries in addition to income protection products.

Direct Life & Pension Services employs 200 staff and is based in Chichester. The company will continue to operate as a stand-alone business from this location, building on its established reputation for first-class products and services.

Paul Glen, chief executive of Cardif Pinnacle, said: “The acquisition of Direct Life & Pension Services is a key move forward in our strategy to develop Cardif Pinnacle’s protection business. This will enable us to increase the product solutions and services we can offer to a broader range of clients and customers. Cardif Pinnacle remains firmly committed to its existing core business.”

Glen continued: “I welcome Mike Ward to our senior management team and look forward to working with him and his colleagues to help us deliver our growth strategy.”

Mike Ward, managing director of Direct Life & Pension Services, said: “Being part of the Cardif Pinnacle Group is an exciting opportunity for us, which will reap benefits and rewards for our businesses, our partners and our customers.”