The Royal Bank of Scotland owned insurance company put up a notice on the company’s website today.
Paul Cowman, insurance director at RBS, said: “Following a strategic review of Direct Line Life, we identified that it needed considerable investment to improve its infrastructure.
“We explored a number of options to address the future of the business, but unfortunately none of them provided a viable solution that would benefit our colleagues, customers and stakeholders.
“Collective consultation with employee representatives has concluded and the FSA has agreed our proposal to cease writing new individual Direct Line Life and Critical Illness business. Our people have been informed of the decision and we are now in the process of consulting with the impacted individuals.”
