Homeserve, the UK's second largest provider of home assistance policies, has selected Aviva as its underwriting partner in a 5 year deal, commencing on 18 November 2015.
Homeserve mainly markets its products through a range of affinity partners (in the UK and overseas) and these include Thames Water, Anglian Water, United Utilities and Aviva itself.
Rumours originally surfaced in the Summer that Homeserve was seeking to replace AXA (Inter Partner Assistance), its underwriting partner since 2007, as part of a tender process.
The value of the partnership is said to be in the region of £300 million GWP per anum, which represents a significant sum for both insurers. The UK home assistance market has been valued at approximately £1.3 billion per anum.
This deal feels like a break with the past for the guys at Homeserve. Clear the decks and move on with a new partner.
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