- Five-year partnership for home insurance to June 2025.
- Six-year partnership for life insurance to December 2026.
- Products available via telephone, online and through the Santander UK branch network.
Today, 5 March 2020, Santander and Aviva have agreed to continue their partnership to provide home and life Insurance to UK-based customers. The new deal will allow the two companies to work together in delivering new products and services and reflects the success of Aviva and Santander’s existing partnership, first announced in 2011.
The agreements follow a scheduled tender process and cover 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, CEO 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 CEO General Insurance 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.”
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Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 30 December 2019, the bank had around 23,500 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2019, Banco Santander had EUR 1.05 trillion in total funds, 145 million customers, of which 21.6 million are loyal and 37 million are digital (52% of active customers), 12,000 branches and 200,000 employees. Banco Santander made underlying profit of EUR 8,252 million in 2019, an increase of 2% compared to the previous year.
Santander Home Insurance is administered and underwritten by Aviva Insurance Limited. Registered in Scotland, No. 2116. Registered Office: Pitheavlis, Perth, PH2 0NH. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Santander Life Insurance Plan, Life & Critical Illness Plan, Critical Illness Plan and Over 50s Life Insurance policies are administered and underwritten by Aviva Life & Pensions UK Limited, registered in England No 3253947, Aviva, Wellington Row, York, YO90 1WR. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number 185896. Member of the Association of British Insurers. www.aviva.co.uk
- Aviva is a leading international savings, retirement and insurance business.
- Our aim is to earn our customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. Last year, we paid c.£33 billion in claims and benefits on behalf of our 33 million customers.
- We operate through five business divisions: Investments, Savings & Retirement; UK Life; General Insurance; Europe Life; and Asia Life; and focus on three strategic priorities: deliver great customer outcomes, excel at the fundamentals and invest in sustainable growth.
- Total group assets under management at Aviva group are £501 billion (as at 30 June 2019) and our Solvency ratio is 195% (3Q19). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
- For more details on what we do, our business and how we help our customers, visit: www.aviva.com/about-us
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