Skandia extend sponsorship

Cowes Week safe until 2005

Tuesday March 19th 2002, Author: James Boyd, Location: United Kingdom
Skandia Life, the financial services group, have announced that they will be extending their sponsorship of Cowes Week by another three years. The new contract commences in 2003 and lasts until 2005.

"We are delighted to maintain title sponsorship of this high-performance event," said Skandia’s Marketing Director, André Oszmann, of the news. "Skandia Life Cowes Week embodies our corporate brand values of passion, courage, creativity, commitment and contribution. We will continue to strive to bring these values to what we believe is the best sailing regatta in the world." Cowes Combined Clubs Director, Stuart Quarrie, commented, "his gives us the financial security that is so necessary for implementation of planning initiatives."

Skandia Life will provide a £1.5 million cash injection, with an amount earmarked for specific funding to enhance and improve the infrastructure of Cowes as a yachting centre. This will include the development of a brand new Regatta Centre for Cowes Combined Club on its site in Bath Road. Planning permission has already been acquired and the CCC have also bought the next door property. Both existing buildings will be demolished in order to make way for the new building. The project has been financed by the sale of eight flats above the new centre. Construction work will begin immediately after Skandia Life Cowes Week 2002 and should be ready in time for the event the following year.

Discussions to move Fireworks night from its traditional Friday to Saturday night have been discussed, but Cowes Combined Clubs says that the general consensus among the vast majoity of competitors is to keep fireworks night on the Friday. The prize giving will be held on the evening of Saturday, 10 August on Cowes Parade and will be open to the public.

Skandia in the UK was launched in 1979 and is now one of the UK’s fastest growing life assurance groups providing pensions, investment and protection products through intermediaries in the UK, EU and overseas. Parent company Skandia Insurance Company Limited is the largest unit-linked assurance company in the world with operations in over 20 countries and assets exceeding £70 billion.

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