Friday, 28 August 2015

TSB partners with Aviva as Lloyds Bank GI loses out

TSB has selected Aviva as its new general insurance partner in a 7-year deal which commences with home insurance, but will extend to include motor, pet, travel and commercial covers. (At the time of writing, the household partnership has not yet been launched.)

The new partnership sees the replacement of Lloyds Bank General Insurance as TSB's home insurance provider; a decision which seemed inevitable following the split of Lloyds Bank and TSB in 2013. TSB does not currently provide other insurance covers to its 4.7 million customers, other than through its Added Value bank accounts, which include partnerships with AXA (travel insurance), LSG (mobile phone insurance) and the AA (motor breakdown). 

The partnership marks another significant success for Aviva in the banking and mortgage sector, where it continues to partner with Barclays, First Direct, HSBC and a range of building societies.