Aviva becomes exclusive life protection provider to Santander in the UK
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Five year life insurance distribution agreement for Aviva’s protection products, from June 2011 § Products available to Santander’s extensive UK customer base through its 1,300 branches, and via telephone and online
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Builds on our existing general insurance relationship with Santander: with the portfolio now spanning life as well as general insurance products
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Consolidates Aviva’s position as one of the leading life protection providers in the UK
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Further evidence of Aviva’s global expertise in successful bancassurance partnerships built on its life and general insurance capability.
Aviva has announced that its UK business has signed an exclusive five year agreement with Santander for the distribution of Aviva's life protection insurance products in the UK from June 2011.
The agreement covers the sale of Aviva's core protection products, including life insurance, critical illness and income protection, which will be sold by Santander through its 1,300 UK branches, online and over the telephone*.
Mark Hodges, Chief Executive of Aviva's UK business, said: “As Britain's leading insurer, our strength lies in the breadth and quality of our product portfolio across both general and life insurance and I'm delighted that Santander's customers will benefit from this. Our new distribution agreement will build on our solid existing general insurance relationship with Santander, creating a platform for significant growth across our UK business.
“We aim to provide Santander's customers with a simple, quick and easy way to purchase a range of life protection products according to their specific needs. We know that many UK adults do not have any life insurance cover at all, so making protection choices as simple as possible is really important.
“Aviva has proven its ability to work closely with more than 90 bancassurance partners throughout the world as part of its broad multi-distribution strategy and our new deal with Santander demonstrates our ability to develop strong and lasting partnerships across our UK business.”
* Santander will sell, under dual Aviva/Santander brands, the following Aviva products:
- Term (decreasing and level) with or without critical illness, income protection - via the telephone, online and in branches.
- Guaranteed Acceptance Whole of Life (50+) excluding direct mail/on-line - via branches and telephone.
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