Santander announces agreement with Aviva
Spanish financial giant Santander, the owner of UK assets such as Abbey, Alliance and Leicester and parts of Bradford and Bingley, has today announced an exclusive five-year deal with UK insurance giant Aviva. The agreement sees Santander enter into an exclusive deal which will see the company sell Aviva life insurance through its 1300 UK branches.
This is not the first deal between Santander and Aviva as the Spanish giants already sells a range of Aviva general insurance products throughout the UK. There is no doubt that Santander is "bulking up" the UK operation ahead of a potential sale later this year or early next year. Quite what value investors will place upon the company's UK operations remains to be seen but there has been significant growth over the last decade.
Santander is one of the few financial companies around the world which has managed to exit the worldwide economic downturn very much stronger. The company continues to look for acquisitions both in the UK and overseas and many believe that Santander, already a formidable name in the worldwide financial arena, is one to watch for the future. It has taken some time to expand the UK operations but the company now has a very strong presence in the country.
Direct Debit insurance 'con'
The average charge each year levied against Britons choosing to pay for home contents insurance via Direct Debit is £31, a new survey shows.Abbey Home Insurance estimates that British households are paying a total of £290 million per year simply for the convenience of paying their home contents insurance premiums by Direct Debit.An estimated 9.3 million people pay for home insurance by Direct De...Read More
Royal Bank of Scotland to close half of its insurance offices
In a rather disappointing and surprise move it has been announced that Royal Bank of Scotland will be closing half of its insurance offices with Glasgow, Peterborough and Bristol earmarked for closure. This will result in well over 1000 jobs being lost amid signs that the company is looking to trim down its insurance operations, which include Churchill and Direct Line, ahead of a forced sale by th...Read More
What Is An Underwriter? (Part Two)
Following on from part one of our article on underwriters, we hereby enclose details of how insurance underwriters operate.
When you take out any insurance there is always a risk that you will use the insurance to claim for a loss of some kind, whether it is the cost of refurbishing a home after a fire, a car accident, or any other form of financ...
Aviva Announces Large Scale Job Cuts
As UK insurance giant Aviva announced job cuts of up to 1,800 due the intended closure of a number of their UK call centres, employers union Unite has entered the fray. Unite is currently at the centre of a number of strike actions throughout the UK and there are concerns that their involvement at such an early stage may well be a precursor to industrial action in the not too distant future.
Insurance comparison websites are failing customers
16/07/2014 Insurance comparison websites are not giving consumers the “appropriate information to make informed decisions”, according to the Financial Conduct Authority (FCA). The FCA reviewed 14 comparison sites and said that some of them were failing to meet regulatory standards. They said that comparison sites focused too much on price, rather than the different features each insur...Read More