Aviva and Barclays are pleased to announce the renewal of their existing contract for Aviva to continue to be the sole provider of home insurance to Barclays UK retail banking customers until 2015.
This renewed deal reflects the success of the UK’s largest insurer’s previous multi-million pound contract with Barclays, announced in 2005.
Aviva and Barclays are committed to driving product and proposition development to continue to provide and build exceptional products and propositions for Barclays’ customers. Both will benefit from the continued relationship, combining the insurer’s scale and expertise in underwriting, product, marketing and claims servicing with Barclays expansive 14 million retail customer base and excellent distribution channels.
Igal Mayer, chief executive, Aviva UK general insurance, says: “We’re delighted Barclays has renewed its contract with Aviva, which further demonstrates our commitment to increasing our position in the general insurance market.
“This deal is a testament to the good relationship we have enjoyed over the last five years, building a mutually beneficial partnership which is profitable and continues to grow.”
Barclays is Aviva’s biggest household insurance partner and the insurer also provides the bank’s small business, high net worth and travel cover.
Gary Duggan, managing director consumer lending, insurance & investments, UK retail banking, Barclays adds: “When we entered into our partnership with Aviva, it was our intention to increase Barclays’ presence in the general insurance market.
“This has been very successful, with sales of insurance through Barclays now making us one of the top ten providers in the UK and reflecting the powerful combination of Barclays distribution and Aviva’s insurance expertise. Since we began the contract with Aviva, the number of home insurance policies we provide has increased by 40%.
“Renewing this partnership with Aviva will allow us to build on our previous success to grow our market share in general insurance and to continue to deliver a genuinely attractive proposition for our customer.”
Gary Duggan is responsible for Barclays combined consumer lending, insurance and personal and corporate investment products business. These businesses were recently brought together to create a hub of insurance, lending and financial advice expertise, from which it can maintain and develop innovative market leading products with its partners that are designed around customers’ needs, enabling Barclays to source the best deals and shape the right products for its customers which will further advance the customer experience.
