Co-op Insurance

This article is about the insurance company. For the type of insurance company, see mutual insurance.
Co-op Insurance
Company typeSubsidiary undertaking
IndustryInsurance services
Founded29 August 1867 (1867-08-29)
Headquarters
CIS Tower,
Manchester
,
United Kingdom
Key people
Mark Summerfield
CEO[1]
ProductsGeneral insurance
Revenue£4.4 billion[2]
ParentThe Co-operative Group
Websitewww.coop.co.uk/insurance

Co-op Insurance is the trading name of CIS General Insurance, a general insurance company, which is part of the Co-operative Group, based in Manchester, United Kingdom. Co-op Insurance Services, an insurance intermediary incorporated in 2017, is a wholly owned subsidiary of CIS General Insurance.[3]

For most of its history, Co-op Insurance was also a life insurer and fund manager, sharing surpluses with holders of its 'with-profits' life policies, as well as with individual members of The Co-operative Group in proportion to their general insurance patronage. In 2013, Royal London Group agreed to buy the life insurance business unit for an estimated £219 million.[4] As a result, Co-op Insurance currently offers business, home, motor, travel and pet insurance products.

  1. ^ "Mark Summerfield: Executive Profile & Biography - Bloomberg". bloomberg.com. 2017. Retrieved 27 October 2017.
  2. ^ "Co-op Insurance 2016 Annual Report and Accounts".
  3. ^ 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
  4. ^ Co-op agrees £219m sale of its insurance arm to Royal London Manchester Evening News, 19 March 2013