'Brand failure' blamed for closure of Holloway Friendly subsidiary

Holloway Friendly CEO Stuart Tragheim said the closure was a result of the brand's failure to achieve "sufficient scale despite the launch and promotion of new products in recent years". He added: "As a mutual organisation Holloway Friendly must preserve value for our members, which is our primary concern. Optimal will of course continue to maintain current schemes and benefits while we go through this process, ensuring clients have continuation of cover." The firm's schemes will be transferred to Canada Life, which will continue to honour the existing terms and conditions that were o...