The announcement came in RSA's results for the first quarter of 2012 and unusually for such a major partnership deal, this was made in advance of final contracts being signed. (Update: Official confirmation of the deal made on 24 July 2012.)
The partnership follows a detailed tender exercise managed by the John Lewis Partnership in 2011 and represents a significant loss for AXA; of what is widely regarded as one of the UK's leading affinity partnerships. AXA remains the incumbent insurer for household, pet, travel, wedding and event covers. It is understood that the travel cover is also likely to be removed from AXA's portfolio and further launch announcements are expected soon.
Ageas continues as the motor provider through its UKAIS operation and Friends Life as the life provider.
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