198:
34:
290:) and CIS Policyholder Services Limited became RLUM (CIS) Limited and RL Marketing (CIS) Limited respectively. The Co-operative Asset Management Limited also transferred, becoming Royal London Asset Management (CIS) Limited. Excluded from the sale, CIS General Insurance remained with the Co-operative Banking Group.
265:
In March 2013, the Co-operative
Banking Group agreed to sell the life insurance, investment and pension businesses to the Royal London Mutual Insurance Society, due to ongoing issues with internal management capability. The intention to sell the general insurance aspect was also announced, although
213:
The Co-operative
Insurance Company Limited was formed in 1867 to provide fire and fidelity guarantee insurance to co-operative societies. In 1886, at an Annual General Meeting it was resolved "...that Life Assurance be undertaken by the Company, and that the shareholders forfeit any rights they may
270:
since 2007 in an attempt to reduce operating costs. In May 2013, the Co-operative
Banking Group withdrew from the agreed purchase of the TSB business after regulators uncovered the extent of issues within the company. In June, the Group revealed a shortfall in its accounts of up to £1.8 billion,
256:
within which all new and renewing insurance business was written. All existing CIS general insurance business was reinsured with CISGIL and CIS continued to write long-term savings and insurance business only. CFS Management
Services Limited was created at the same time to provide common support
293:
In
January 2014, The Co-operative Group announced its decision not to sell the GI business. The proceeds of the sale (announced on 21 March 2013) were envisaged to be a part of the Group’s planned £1 billion contribution to the recapitalisation of The Co-operative Bank. The revised terms of the
225:
The shares of the
Society were taken over by the Co-operative Wholesale Society and the Scottish Co-operative Wholesale Society in 1913. In 1973, the Scottish Co-operative Wholesale Society merged with CWS. CWS became The Co-operative Group on merger with
294:
Recapitalisation Plan, as set out on 4 November 2013, involve a smaller Group contribution and have allowed the Group, as part of its wider strategic review, to reconsider its plans. The Co-operative Group no longer owns any part of the former Bank.
468:
Originally registered under the
Industrial and Provident Societies Act 1965, No. 29999R. Converted into a company limited by shares under the Companies Act 2006, No. 12698289, in 2020. Entered in the Financial Services Register, Firm No.
214:
have to the profits of the Life
Department and agree that they shall belong exclusively to the Policyholders." In 1899, industrial life business was also introduced and the company was converted into an
305:
The
Society's head office on Miller Street in Manchester city centre was, at the time of completion in 1962, the tallest building in Europe, standing at 387 feet (118 m). Since the opening of the
522:
320:
Insurance, part of the
Allianz (UK) Group. HomeRescue Plus, motor breakdown et cover and accident recovery service are provided on behalf of Co-op Insurance by AXA Assistance (UK).
189:
agreed to buy the life insurance business unit for an estimated £219 million. As a result, Co-op Insurance currently offers business, home, motor, travel and pet insurance products.
266:
in the event of a sale, it stated it would continue to sell re-badged products under The Co-operative Insurance name. The administration of the life portfolio had been managed by
422:
Registered as a Co-operative Society under the Co-operative and Community Benefit Societies Act 2014, No. RS004390. Entered in the Financial Services Register, Firm No. 779364
506:
910:
905:
364:
523:
PRA approves Royal London’s acquisition of the Co-operative Group’s life insurance business; FCA approves acquisition of Co-operative’s asset management business
297:
In 2020, Co-operative Group sold the insurance underwriting business for £185million, leaving the Co-operative name as a marketing and distribution brand only .
443:
574:
915:
900:
316:
Co-op Insurance currently offers business, home, motor, travel and pet insurance products. Pet insurance is provided, underwritten and administered by
257:
services to both CIS and CISGIL. In 2011, after 125 years, The Co-operative Insurance announced that it would cease providing life assurance products.
552:
Previously CIS Investment Management Ltd. Registered in England and Wales, No. 3858994. Entered in the Financial Services Register, Firm No. 141665
351:
Members of The Co-operative Group and participating regional societies earn membership points on the products they hold. Points are converted into
170:, United Kingdom. Co-op Insurance Services, an insurance intermediary incorporated in 2017, is a wholly owned subsidiary of CIS General Insurance.
925:
491:
885:
644:
561:
456:
313:
was clad in solar panels due to a large number of 1960’s tiles falling off the building, becoming Europe's largest vertical solar array.
197:
355:
at a rate agreed annually by the Board.A decision made by the Coop meaning Coop members will not earn 2p per £1 spend from 24th Jan 24.
383:
534:
Registered in England and Wales under the Companies Act 1985, No. 2369965. Entered in the Financial Services Register, Firm No. 144032
575:"Co-op agrees to sell insurance underwriting business to Markerstudy and creates distribution agreement for home and motor policies"
503:
431:
222:(CIS). Other classes of business were provided for the general public and not just for co-operative societies and their members.
920:
895:
890:
233:
In 2002, due to the poor performance of CIS, Co-operative Financial Services was created as a holding company for both CIS and
185:, as well as with individual members of The Co-operative Group in proportion to their general insurance patronage. In 2013,
409:
798:
478:
830:
815:
279:
637:
459:, No. 3615R. Authorised and regulated by the Financial Services Authority, entered in the Register under No. 150965
215:
286:, changing its name to Royal London (CIS) Limited. Subsidiary undertakings, CIS Unit Managers Limited (trading as
704:
782:
249:
trading names were introduced. In 2011, Co-operative Financial Services became the Co-operative Banking Group.
835:
820:
598:
227:
687:
630:
543:
Registered in England and Wales, No. 3390839. Entered in the Financial Services Register, Firm No. 188391
309:
in 2006, it is now the second tallest building in Manchester. In 2006, using a government subsidy, the
272:
252:
In 2006, CIS split its life and general insurance businesses into two separate entities, establishing
306:
810:
162:
is the trading name of CIS General Insurance, a general insurance company, which is part of the
710:
653:
131:
788:
271:
related to bad debts on commercial real estate, belated costs following the 2009 purchase of
234:
682:
8:
328:
182:
734:
186:
163:
672:
324:
19:
This article is about the insurance company. For the type of insurance company, see
766:
340:
336:
20:
718:
510:
202:
762:
740:
174:
126:
879:
805:
283:
793:
504:
Capita Group plc and Co-operative Insurance sign major outsourcing contract
267:
238:
178:
854:
622:
206:
864:
859:
667:
167:
33:
757:
310:
111:
78:
52:
825:
615:
479:
End of an era: Co-operative Group set to sell-off General Insurance
352:
332:
142:
384:"Mark Summerfield: Executive Profile & Biography - Bloomberg"
317:
432:
Co-op agrees £219m sale of its insurance arm to Royal London
446:
The Co-operative Banking Group (retrieved 24 August 2013)
100:
365:
Co-op Insurance Society Ltd v Argyll Stores Holdings Ltd
564:
The Royal London Mutual Insurance Society, August 2013
278:
In July 2013, Co-operative Insurance Society became a
492:
Britain is turning its back on co-operative insurance
173:
For most of its history, Co-op Insurance was also a
911:Financial services companies of the United Kingdom
601:The Co-operative Group (retrieved 27 August 2013)
410:"Co-op Insurance 2016 Annual Report and Accounts"
906:Financial services companies established in 1867
877:
638:
327:sponsorship. It has previously sponsored the
241:, the first full internet bank and, in 2008,
525:The Co-operative Banking Group, 26 July 2013
457:Industrial and Provident Societies Act 1965
275:, and a failed overhaul of key IT systems.
652:
645:
631:
32:
916:1867 establishments in the United Kingdom
901:Insurance companies of the United Kingdom
196:
181:, sharing surpluses with holders of its
323:The Co-op Insurance has a tradition of
878:
434:Manchester Evening News, 19 March 2013
220:Co-operative Insurance Society Limited
926:British companies established in 1867
626:
205:CIS Tower, designed by G.S. Hay and
886:Co-operatives in the United Kingdom
13:
831:Associated Co-operative Creameries
14:
937:
816:Co-operative Travel Trading Group
607:
562:Welcome to the Royal London Group
280:private company limited by shares
481:Co-operative News, 21 March 2013
216:industrial and provident society
705:Federal Retail Trading Services
592:
567:
555:
546:
537:
528:
516:
497:
783:The Co-operative Banking Group
484:
472:
462:
449:
437:
425:
416:
402:
376:
1:
921:Companies established in 1867
896:Companies based in Manchester
891:Cooperative banking in Europe
513:Capita Group, 15 October 2007
370:
346:
300:
260:
254:CIS General Insurance Limited
836:Co-operative Retail Services
821:The Co-operative Motor Group
288:The Co-operative Investments
247:The Co-operative Investments
228:Co-operative Retail Services
183:'with-profits' life policies
7:
358:
16:Insurance company in the UK
10:
942:
444:The Co-operative Insurance
273:Britannia Building Society
243:The Co-operative Insurance
192:
18:
844:
806:The Co-operative Pharmacy
775:
750:
727:
697:
660:
137:
125:
117:
107:
91:
73:
58:
48:
40:
31:
776:Former formats/interests
494:The Guardian, 7 May 2013
62:29 August 1867
811:The Co-operative Travel
218:, changing its name to
826:The Co-operative Farms
654:The Co-operative Group
210:
132:The Co-operative Group
44:Subsidiary undertaking
789:The Co-operative Bank
579:www.co-operative.coop
455:Registered under the
235:The Co-operative Bank
200:
683:Co-op Legal Services
599:The Co-op Membership
845:Former subsidiaries
329:Scottish League Cup
28:
735:Shirine Khoury-Haq
509:2013-11-04 at the
211:
187:Royal London Group
164:Co-operative Group
53:Insurance services
26:
873:
872:
737:(Chief Executive)
673:Co-op Funeralcare
157:
156:
112:General insurance
97:Mark Summerfield
933:
767:NOMA, Manchester
712:The Co-operative
688:Co-op Electrical
647:
640:
633:
624:
623:
619:
618:
616:Official website
602:
596:
590:
589:
587:
585:
571:
565:
559:
553:
550:
544:
541:
535:
532:
526:
520:
514:
501:
495:
488:
482:
476:
470:
466:
460:
453:
447:
441:
435:
429:
423:
420:
414:
413:
406:
400:
399:
397:
395:
380:
341:Northern Ireland
337:Irish League Cup
153:
150:
148:
146:
144:
103:
69:
67:
36:
29:
25:
21:mutual insurance
941:
940:
936:
935:
934:
932:
931:
930:
876:
875:
874:
869:
840:
771:
746:
723:
693:
678:Co-op Insurance
656:
651:
614:
613:
610:
605:
597:
593:
583:
581:
573:
572:
568:
560:
556:
551:
547:
542:
538:
533:
529:
521:
517:
511:Wayback Machine
502:
498:
489:
485:
477:
473:
467:
463:
454:
450:
442:
438:
430:
426:
421:
417:
408:
407:
403:
393:
391:
382:
381:
377:
373:
361:
349:
303:
263:
203:Grade II listed
195:
160:Co-op Insurance
141:
99:
98:
94:
87:
83:
80:
65:
63:
27:Co-op Insurance
24:
17:
12:
11:
5:
939:
929:
928:
923:
918:
913:
908:
903:
898:
893:
888:
871:
870:
868:
867:
862:
857:
852:
848:
846:
842:
841:
839:
838:
833:
828:
823:
818:
813:
808:
803:
802:
801:
796:
786:
779:
777:
773:
772:
770:
769:
763:1 Angel Square
760:
754:
752:
748:
747:
745:
744:
741:Allan Leighton
738:
731:
729:
725:
724:
722:
721:
716:
708:
701:
699:
695:
694:
692:
691:
685:
680:
675:
670:
664:
662:
658:
657:
650:
649:
642:
635:
627:
621:
620:
609:
608:External links
606:
604:
603:
591:
566:
554:
545:
536:
527:
515:
496:
490:Bibby, Andrew
483:
471:
461:
448:
436:
424:
415:
401:
374:
372:
369:
368:
367:
360:
357:
348:
345:
302:
299:
262:
259:
194:
191:
155:
154:
139:
135:
134:
129:
123:
122:
119:
115:
114:
109:
105:
104:
95:
92:
89:
88:
86:United Kingdom
85:
77:
75:
71:
70:
60:
56:
55:
50:
46:
45:
42:
38:
37:
15:
9:
6:
4:
3:
2:
938:
927:
924:
922:
919:
917:
914:
912:
909:
907:
904:
902:
899:
897:
894:
892:
889:
887:
884:
883:
881:
866:
863:
861:
858:
856:
853:
850:
849:
847:
843:
837:
834:
832:
829:
827:
824:
822:
819:
817:
814:
812:
809:
807:
804:
800:
797:
795:
792:
791:
790:
787:
784:
781:
780:
778:
774:
768:
764:
761:
759:
756:
755:
753:
749:
742:
739:
736:
733:
732:
730:
726:
720:
717:
715:
713:
709:
707:(former CRTG)
706:
703:
702:
700:
696:
689:
686:
684:
681:
679:
676:
674:
671:
669:
666:
665:
663:
659:
655:
648:
643:
641:
636:
634:
629:
628:
625:
617:
612:
611:
600:
595:
580:
576:
570:
563:
558:
549:
540:
531:
524:
519:
512:
508:
505:
500:
493:
487:
480:
475:
465:
458:
452:
445:
440:
433:
428:
419:
411:
405:
389:
388:bloomberg.com
385:
379:
375:
366:
363:
362:
356:
354:
344:
342:
338:
334:
330:
326:
321:
319:
314:
312:
308:
307:Beetham Tower
298:
295:
291:
289:
285:
284:Companies Act
281:
276:
274:
269:
258:
255:
250:
248:
244:
240:
236:
231:
229:
223:
221:
217:
208:
204:
199:
190:
188:
184:
180:
176:
171:
169:
165:
161:
152:
140:
136:
133:
130:
128:
124:
120:
116:
113:
110:
106:
102:
96:
90:
82:
76:
72:
61:
57:
54:
51:
47:
43:
39:
35:
30:
22:
785:(former CFS)
751:Headquarters
711:
677:
594:
582:. Retrieved
578:
569:
557:
548:
539:
530:
518:
499:
486:
474:
464:
451:
439:
427:
418:
404:
392:. Retrieved
387:
378:
350:
322:
315:
304:
296:
292:
287:
277:
268:Capita Group
264:
253:
251:
246:
242:
232:
224:
219:
212:
179:fund manager
175:life insurer
172:
159:
158:
121:£4.4 billion
74:Headquarters
41:Company type
855:David Sands
207:Gordon Tait
166:, based in
880:Categories
865:Somerfield
860:Local Plus
743:(Chairman)
668:Co-op Food
394:27 October
371:References
347:Membership
301:Operations
282:under the
261:Divestment
237:including
168:Manchester
151:/insurance
93:Key people
81:Manchester
79:CIS Tower,
66:1867-08-29
799:Britannia
758:CIS Tower
698:Wholesale
311:CIS Tower
230:in 2000.
690:(online)
507:Archived
359:See also
353:dividend
335:and the
333:Scotland
325:football
108:Products
49:Industry
851:Alldays
584:22 June
318:Allianz
193:History
138:Website
118:Revenue
64: (
59:Founded
728:People
661:Retail
469:435022
390:. 2017
127:Parent
794:Smile
714:brand
239:Smile
145:.coop
719:Nisa
586:2021
396:2017
245:and
201:The
177:and
765:at
339:in
331:in
149:.uk
147:.co
143:www
101:CEO
882::
577:.
386:.
343:.
84:,
646:e
639:t
632:v
588:.
412:.
398:.
209:.
68:)
23:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
_(geograph_2757249).jpg)