AIB to announce Irish Life partnership

AIB is expected to announce Irish Life as its new third-party life assurance and pensions provider next week, after ending its current partnership with Aviva.

It was announced yesterday that AIB is to end its five-year arrangement with Aviva, which saw the bank sell Aviva products through its branches, after deciding not to renew the current contract. The move will also see the 300 Aviva employees, who worked on the Ark Life joint venture, temporarily switch to AIB until a new distribution deal is announced.

While it is believed AIB is close to naming Irish Life as its new partner, a spokesperson for AIB declined to comment, other than to say the bank hopes to unveil a new partnership in the next week or so.