It seems as though the whispers and rumours that have been landing on our ears in recent months have mostly come true. We haven’t published most of them as you can’t usually rely on rumour sources. However, it appears as though our network of unwitting snitches have had some grounding to their comments. The latest being the proposal that Lloyds TSB are planning to pull their insurance comparison services.
So how’s this new one – it is ‘rumoured’ that Legal and General are considering a bid to buy the successful life insurance broker ClickLife. We know that ClickLife have been falling over themselves to buy any data going (and a lot that’s not!). Perhaps a sign of the huge margins they can make? Perhaps a sign of the increased competitiveness in the life insurance market?
Could it be that ClickLife recognise they’ve hit a critical mass and they either need big investment to launch themselves into the minds of the wider public or they need the stability of flying under the wing of a massive corporation such as Legal and General? Maybe the current owners think they’ve peaked?
Does anyone know anything about this proposed bid? It could make for an interesting change in the UK life insurance sector or simply be a large corporation headline for a few months and before resulting in business as usual for the rest of the market.
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As much as I’m not a fan of internet rumours because they can do more harm than good, I’m afraid to say I’ve caught wind of this too. I work in the life insurance sector and I know a guy who has been sounded out about a buying consortium to act as a lure to flush out/confirm interest from L&G and move things along. Nothing concrete in my words to the rest of the public obviously. But I’m intrigued to know how the IV blog get to hear about these things. You’ve been on the money so far – can’t wait for you to trip up …LOL!
Guys,
Thanks for this rumour. We regard any discussion about Click in the Industry as being a good thing.
Not sure whether you have tripped up on this one but I thought I would leave a comment to put the record straight:
- L&G has not made any moves towards Click, nor do I expect them to do so. It may be early days so you may be right but probably not. As I heard the news here first, if anything does happen then I will let you know, but don’t hold your breath.
- Unfortunately margins are very tight and getting tighter.
- We are always interested in talking to Life Offices that can help accelerate the growth of Click. We have definately not reached critical mass or peaked and have significant organic growth plans but further funding would help; as it would any company in our position. I obviously believe that such an investment “could make for an interesting change in the UK life insurance sector”
All the best
Ray