Under the renewed deal, Aviva and Santander have extended their home insurance partnership to June 2025
British insurance company Aviva has renewed its home and life Insurance partnership in the UK with Spanish banking group Santander.
The renewed deal is said to enable the two firms to work together in offering new products and services and extend their partnership, which began in June 2011.
According to the insurance firm, the agreements made with Santander follow a scheduled tender process. The agreements cover the distribution of home insurance, family and lifestyle protection, mortgage life protection, and over 50s life insurance.
The insurance products will be sold by the Spanish bank through its branch network in the UK, online, and also over the telephone.
Validity of the renewed partnership between Aviva and Santander
The new home insurance partnership will be valid till June 2025, while the life insurance partnership will be till December 2026.
Santander Insurance Services CEO Richard Al-Dabbagh 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.”
Aviva claimed that the renewed partnership underscores the focus of the Spanish bank on offering a variety of quality services and products that suit its customers’ requirements. For the insurer, the partnership is said to strengthen its position as the largest insurer in the UK with operations at scale across life insurance, savings, health insurance, general insurance, and retirement markets.
Aviva general insurance global CEO Colm Holmes said: “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.”
Earlier this month, the British insurer launched a product called Simple Life Insurance aimed at helping advisers ensure that more customers are financially protected irrespective of their budget. The new cover is said to complement the company’s Life Insurance+ policy.