Saatchi & Saatchi and the Norwich Union have parted company as a
result of increasing clashes with the agency’s LloydsTSB business.
The account, which is worth almost pounds 13 million according to the
latest MMS figures, has been handled by Saatchis since 1993.
According to the Norwich Union group brand manager, Thomas Cowper
Johnson: ’Lloyds TSB has been moving into a broader range of financial
services such as insurance, pensions and investments which is a core
part of our business. Saatchi & Saatchi has made an enormous
contribution to the Norwich Union but we agreed with the agency that
there had to be a parting of the ways. It was a mutual decision.
’We are talking to agencies this week and will be inviting about four to
pitch for the account. We hope to have a new agency in place by
Christmas,’ he added.
Saatchis was appointed to handle the launch of the merged LloydsTSB bank
last year. According to MMS, the bank’s adspend was pounds 4 million for
the year ending March 1999. However, recent spend is thought to have far
exceeded that figure.
Adam Crozier, joint chief executive of Saatchis, said: ’With the trend
for convergence we are finding that there is more conflict between the
business. This is something we have discussed with Norwich Union.
However, we are proud of the flotation work we have done for them.’
The privatisation campaign marked the first flotation of a
mutually-owned UK life insurer.
Current advertising is the ’part of the union’ campaign, which broke
New executions broke last month and run until December. They aim to
change views of the company as being solely an insurance provider,
rather than a serious long-term investment player.
The ads feature children in outfits dreaming about what they might be
when they grow up. The trademark red braces and ’part of the union’
soundtrack are also featured.
Earlier this year Mustoe Merriman Herring Levy joined the Norwich Union
roster, winning the pounds 3 million task to launch the investment fund
arm, Norwich Union Trust Managers.
The agency was tasked with creating a completely separate identity for
the division, which competes with Barclays b2.
Last month the company also appointed Lowe Direct to handle Norwich
Union Healthcare’s entire below-the-line business, including DRTV,
without a pitch.
Media, which is handled by MBS Media, is unaffected by the review.