12 September 2002. Zurich Financial Services completes a hat-trick with the announcement today of a new partnership with Newcastle Building Society - its third such signing in less than a year, with a fourth expected in the next few weeks.
Newcastle Building Society has been tied to Norwich Union for the past 13 years and this move to Zurich will take effect in March 2003.
Currently The Society has 51 branches and some 450,000 members who will benefit from the new tie with access to a wide range of Zurich's financial solutions. These include investment products such as ISA's and OEICS backed by award winning Threadneedle funds, life assurance, critical illness insurance and award winning pensions.
Ray Greenshields, Chief Executive of Zurich's UK, Ireland and International Life businesses said, "This is an exciting time for us. Newcastle Building Society shares our passion for customer service and innovation and we are delighted that they have decided to tie with Zurich. They will benefit from our extensive sales management experience and our proven expertise in dealing with financial advisors and their clients. Our relationship with Newcastle Building Society sits well alongside existing partnerships in this sector with Bristol & West plc and Market Harborough Building Society."
Chief Executive of Newcastle Building Society, Robert Hollinshead, explained, "Zurich has a track record of success in this sector, with a very clear understanding of the issues facing our market place and our customers. By combining our individual strengths, we can deliver a wider range of products and services to our customers, providing a package of 'cradle to grave' financial solutions. Zurich also has a reputation for innovation and flexibility which will enable us to respond quickly to customers' demands as lifestyles change."
Dermot McKeever, Zurich's Sales Development Director said, "We're very excited about this opportunity, which gives both Newcastle and ourselves a brand new focus. Considerable energy and effort has been invested in developing the synergies between our businesses, with the result being the creation of a new subsidiary company operated by Newcastle as an appointed representative of Zurich. We continue to make great strides in our relationships in this marketplace, leveraging our proven expertise in distribution management."
