AXA UK has announced a strategic partnership with Lloyds Banking Group to become the exclusive provider of car and van insurance products for customers under the Lloyds, Bank of Scotland, and Halifax brands. The five-year agreement will commence in May 2025, marking a significant collaboration between two industry leaders.
This partnership positions AXA as the sole underwriter for Lloyds Banking Group’s motor portfolio, streamlining insurance offerings for one of the UK’s largest retail banks, which serves approximately 27 million customers.
Alain Zweibrucker, CEO of AXA Retail, expressed enthusiasm for the partnership:
“We’re thrilled to collaborate with Lloyds Banking Group to meet the evolving needs of our customers. This partnership reinforces our commitment to the UK personal lines market and supports the growth of our business. It’s a win-win for our customers and intermediary partners, and we’re excited to launch in May 2025.”
Jeremy Ward, General Insurance Director at Lloyds Banking Group, highlighted the customer-focused approach:
“Peace of mind through quality insurance at a competitive price is what our customers value most. Partnering with AXA allows us to enhance our offering and provide greater choice to drivers, ensuring they have the coverage that best suits their needs.”
The collaboration aims to deliver tailored insurance solutions with improved coverage and competitive pricing, ensuring drivers receive high-quality policies that align with their needs.
Currently, Lloyds Banking Group’s motor and van insurance is underwritten by a panel of insurers. This agreement with AXA simplifies the underwriting process, consolidating the group’s insurance offerings under a single, trusted provider.
This partnership underscores both AXA UK and Lloyds Banking Group’s dedication to innovation and customer satisfaction, setting a new benchmark for motor insurance in the UK.
Similar news:
Varo Bank Partners with Green Dot & CVS Pharmacy to Eliminate Cash Deposit Fees Nationwide
