Aviva and banking group Santander
have entered into an exclusive five-year life insurance
distribution agreement in the UK, building on an existing general
insurance distribution agreement. The new agreement takes effect in
June 2011.
Under the agreement, Santander will
sell, under dual Aviva/Santander brands, decreasing and level term
life insurance with or without critical illness and income
protection insurance products through its 1,300 branches and via
telephone and online channels. In addition, Santander will sell
Aviva guaranteed acceptance whole life for over 50 year olds
through the branch and telephone channels only.
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Mark Hodges, CEO of Aviva’s UK
business, said: “Our new distribution agreement will build on our
solid existing general insurance relationship with Santander,
creating a platform for significant growth across our UK
business.”
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