Lloyds Bank General Insurance has become the sole underwriter of household insurance for the major brands within the Lloyds Banking Group - Halifax, Lloyds Bank and Bank of Scotland - and their three million policyholders.
It is understood that the bank's insurer was already the dominant player in what is probably the UK's largest household insurance "affinity", but it does mark a significant potential loss of "partnerships' business" for major insurers including RSA, Allianz and Legal & General.
The bank has portrayed the switch from a panel as a means of ensuring "consistency of quality and service" for customers.
The three brands continue to partner with Junction (and its panel) for motor insurance. For travel insurance, Lloyds Bank works with AXA and Halifax partners with Cigna.
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