HSBC and Aviva extend UK distribution deal

Aviva appointed Preferred Strategic Partner for HSBC across UK and Europe

Aviva and HSBC have strengthened their relationship with the extension of their general insurance deal, and the insurer’s appointment as a Preferred Strategic Partner in the UK and Europe.

Aviva’s appointment as a Preferred Strategic Partner to HSBC offers significant opportunities within the insurer’s life and general insurance business across Europe.

The HSBC and Aviva five-year exclusive general insurance distribution deal signed in 2007 for home, travel and creditor business in the UK is now extended to 2016. It enables the bank’s customers to purchase general insurance products through its branches in the UK, over the telephone, and online.

Mark Hodges, chief executive of Aviva’s UK business, said: “The extension of our general insurance deal with HSBC is a clear indication of the existing strength and depth of our partnership.

“As a leading bancassurance provider in the UK and Europe, and an HSBC preferred partner, we’re in the unique position of being able to offer a range of market-leading life and general insurance products. I’m optimistic that this product breadth will lead to further opportunities with HSBC.

“Our overall bancassurance strength provides significant scope for the future, is a key part of our multi-distribution strategy and it’s an area we are focused on growing.”

Aviva has more than 100 bancassurance partnerships around the world.

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Notes to editors

About Aviva

Aviva is a leading provider of life and pension products in Europe (including the UK) with substantial positions in other markets around the world, making it the world’s sixth largest insurance group based on gross worldwide premiums at 31 December 2009.
Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales* of £47.1 billion and funds under management of £402 billion at 31 December 2010.
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*based on gross worldwide premiums at 31 December 2009