Tesco is hunting for an insurance expert to help expand its financial services division.
Tesco Personal Finance (TPF) is already well established in the insurance field, offering personal lines insurance products as well as it’s credit card and other financial services.
The majority of their marketing for their personal lines products has so far been through the leaflets found at their sales points near check out counters, but following a pilot in Glasgow, it now plans to open 30 “walk-in” branches of Tesco Personal Finance in some of it’s stores around the UK by the end of 2009.
The first stores to introduce the service are due to those in Coventry, Blackpool and Bristol.
Tesco also plans to extend it’s finacial services further by launching a current account within the next couple of years as soon as they have the relevant technology in place. 200 new jobs are expected to be created in Edinburgh to support the roll out.
A Tesco spokesman denies that the creation of these walk-in financial centres has any connection to the current turmoil in retail banking sector.
Tesco Personal Finance secured authorisation from the Financial Services Authority in 2001 and has since developed successful insurance products protecting the home, pets, travel, dental, life and health insurance as well as their well known competitively priced motor insurance policies.
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