Article date: 28 April 2003
Norwich Union has been selected to provide household andcreditor insurance for Scarborough Building Society (SBS)customers.
The UK’s largest general insurer has previously providedmortgage indemnity guarantee cover for the top 20 building society.This new three-year agreement comes into effect from May 1.
The household and creditor book of business is expected to beworth £8 million in gross premium income over three years.
Graham Boffey, corporate partnerships director at Norwich Union,said: “SBS demands very high standards of service, stabilityand reliability and we are delighted to demonstrate that we canmeet their high expectations.
“This win confirms Norwich Union’s reputation as atrusted and valued partner in an increasingly uncertain andcompetitive marketplace.”
Paul Draycott, general manager marketing, at ScarboroughBuilding Society, added: “We are delighted to extend ourrelationship with Norwich Union with whom we can enhance our rangeof quality products, aligned to excellent service for the long-termbenefit of our members."
Liz Kennett at Norwich Union on 08703 66 68 68/07801 901666 orPaul Draycott at Scarborough Building Society on 01723 504226.
Notes to editors:
- Norwich Union is the UK’s largest insurer with a marketshare of around 16 per cent and is more than 1.5 times the size ofits nearest rival. It is also the largest personal linesinsurer.
- It has a focus on insurance for individuals and smallbusinesses. It insures:
- one in five households
- one in five motor vehicles
- more than 700,000 businesses
- Norwich Union products are available through a variety ofdistribution channels including brokers, corporate partners suchas banks and building societies and Norwich Union Direct.
- Norwich Union’s news releases are available on the Avivaplc website at www.aviva.com
- A selection of images is available from the Norwich UnionNewscast site at www.newscast.co.uk
- Scarborough Borough Society is the 19th largest buildingsociety in the UK with total assets approaching £1.3bn. Theorganisation has a strong cost to asset ratio, providing theefficiency to support the provision of a competitive, transparentand value-based range of products and services for members alignedto the company’s mutual status.