The deal is expected to start in January 2005, when new FSA rules on the sale of regulated products are due to come into effect. Britannia members will be able to buy AXA mortgage and life protection, investments, pensions, annuities, unit trusts and ISAs, in Britannia branches and via a telesales team.
“The new rules change the competitive landscape and offer new opportunities for product providers and distributors,” explained Britannia membership business managing director Tim Franklin. “Our members come first in everything we do and this deal means we will be able to provide them with great service and a full range of quality life, pension and protection products.
“AXA’s commitment to understanding and delivering for customers is key to the success of this relationship going forward. Transferring to AXA will also help our salespeople develop – they will have better career opportunities with a bigger organisation selling a wider product range.”
