In July 2003, the Swiss Life Group announced that the UK operation would close to new individual business. In addition, UnumProvident will be the new partner for the Swiss Life Network in the UK. The transaction comprises approximately 1,800 group income protection policies covering 280,000 people and renewal rights to approximately 6,800 group life and critical illness policies covering 1.3 million lives. The first transfer date is 1 January 2004 and is subject to regulatory approval. The financial terms of the transaction are to remain confidential. Rolf Dörig, Chief Executive Officer of the Swiss Life Group, said: "We want to focus all our energies on core business and to restore profitability. By transferring group risk business from Swiss Life (UK) to UnumProvident we can take a further step in this direction." (gmcg)