Daily Insurance Industry News
Daily Insurance Industry News
Wednesday 20th of March 2019
September 11, 2009

Tesco and Fortis complete partnership

by Richard Kilner

Story link: Tesco and Fortis complete partnership

Tesco Personal Finance Plc (TPF) and Fortis (UK) Ltd have formalised their partnership to provide motor and home insurance.

The deal was first announced in June, with Fortis replacing RBS-owned UKI Partnerships, the former partner of Tesco.

Under the agreement Fortis will provide underwriting expertise and claims management with Tesco handling retail pricing, sales and marketing, customer service and new product development.

British motorists and homeowners with Tesco insurance are expected to benefit from improved levels of service and more competitive prices.

The new partnership is also good news for the jobs market, with 1,500 new jobs being created.

It will also lead to the formation of a new claims management and underwriting entity, Tesco Insurance Limited, 50.1% owned by Fortis and 49.9% owned by TPF.

The partnership will initially last until 2015, and TPF products such as car, van and household insurance will be covered.


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