Aviva has renewed its partnership with Santander to provide home and life insurance to customers based in the UK.
First struck in 2011, the renewed partnership will see the insurer and financial services group work together in delivering new products and services.
The agreement follows a scheduled tender process and covers the distribution of home insurance, mortgage life protection, family and lifestyle protection and over 50s life insurance, which will be sold by Santander through its UK branch network, online and over the telephone.
The new partnership for home insurance will run to June 2025 and life insurance to December 2026.
It underlines Santander’s focus on delivering a range of quality services and products that fits its customers’ requirements and consolidates Aviva’s position as the UK’s largest insurer operating at scale across life insurance, savings, general insurance, health insurance and retirement markets.
Richard Al-Dabbagh, chief executive officer of Santander Insurance Services, said: “We have enjoyed a very successful partnership with Aviva over several years and this new agreement will extend our relationship until 2025/26, bringing with it an exciting opportunity to work together on transformation projects across the products and services we provide to customers.”
“Backed by the strength of two brands consumers know and trust, we want to continue to provide our customers with protection that supports them when they need it and to build on the award-winning, comprehensive claims service our customers have become used to.”
Colm Holmes, global chief executive officer general insurance at Aviva, said: “I am delighted that we have renewed our partnership with Santander. This builds on our successful nine-year partnership and underlines our joint, ongoing commitment to provide quality, affordable insurance solutions to help customers protect their homes and their lives.”
“It also highlights the breadth and quality of Aviva’s offering to our banking partners and the strength of our portfolio across both general and life insurance. The renewal of our partnership means that Santander’s insurance customers will continue to receive the protection they need and enables us to continue delivering sustainable, profitable growth with our strategic partners.”
News of Aviva’s renewed partnership with Santander came as the insurer announced general insurance net written premiums rose 2% in 2019 to £9.3 billion. This increase was driven by growth in commercial lines.
UK personal lines net written premiums fell 4% to £2.4 billion as Aviva maintained its pricing discipline in motor and targeted reductions in poor performing segments, combined with the continued run-off of its creditor book.
Maurice Tulloch, chief executive officer of Avia, said in a statement accompanying the results: “My objective is to run Aviva better. We will improve business performance and enhance returns through disciplined action on expenses and underwriting. We will focus capital and resources where we can achieve competitive advantage and strong returns and we will take robust action across the portfolio where our performance falls short or where we can see a better way of delivering value to our shareholders.”