Spanish lender Banco Santander has extended its partnership with British insurance giant Aviva to provide home and life insurance to its customers in the UK.
As per the agreement, the home insurance deal will last until June 2025, while the life insurance deal will last until December 2026.
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The companies first signed the deal in 2011.
The renewed deal covers home insurance, mortgage life protection, family and lifestyle protection and over 50s life insurance.
Santander will sell these offering through its UK branch, online, and telephone channels.
Aviva global general insurance CEO Colm Holmes said: “The renewal of our partnership means that Santander’s insurance customers will continue to receive the protection they need and enables us to continue delivering sustainable, profitable growth with our strategic partners.”
Santander Insurance Services CEO Richard Al-Dabbagh said: “This new agreement will extend our relationship until 2025/26, bringing with it an exciting opportunity to work together on transformation projects across the products and services we provide to customers.
“Backed by the strength of two brands consumers know and trust, we want to continue to provide our customers with protection that supports them when they need it and to build on the award-winning, comprehensive claims service our customers have become used to.”
Last month, Aviva introduced Simple Life Insurance to complement its Life Insurance+ policy.
Last year in June, Banco Santander acquired 60% stake in Allianz Popular for $1bn.
