Article date: 12 February 2004
Norwich Union has confirmed that it is close to signing a dealwith Folgate to sell Hill House Hammond Business (HHHB) - thecommercial insurance division of Hill House Hammond.
It is believed that today's announcement will offer reassuranceto the 250 staff in Hill House Hammond Business. The company ishopeful that the vast majority of staff will be taken on byFolgate.
Once the deal is finalised Folgate will take over Hill HouseHammond's commercial branch network and its Bournemouth call centreoperation.
Ken Wallace, intermediary business director at Norwich UnionInsurance and chairman of Hill House Hammond, said: "We are pleasedthat we are now in a position to name the company that we are innegotiation with. We are delighted with the progress we have madein this negotiation, which we believe will result in us reachingagreement with them shortly.
"Our decision supports our strategy of keeping commercialbusiness in the broker market and we believe this developmenthighlights our confidence in the future of the intermediarychannel."
Liz Kennett/David Ross atNorwich Union press office on 01603 688263/01603 682730 (out ofhours 07801 901666/07786 526350).
Notes to editors:
Norwich Union Insurance
- Norwich Union is the UK's largest insurer with a market shareof around 14 per cent
- With a focus on insurance for individuals and smallbusinesses, Norwich Union insures:
- one in five households
- one in seven motor vehicles
- more than 800,000 businesses
- Norwich Union products are available through a variety ofdistribution channels including brokers, corporate partners suchas banks and building societies and Norwich Union Direct.
- Hill House Hammond (HHH) is a high street general insurancebroker, with over 800,000 customers. Its core business is home andmotor insurance but it also provides cover for specialist risksand has a dedicated commercial division, 'Hill House HammondBusiness'. HHH operates from over 240 branches and other officesnationwide.
- Norwich Union’s news releases and a selection of imagesare available on the Aviva internet press centre atwww.aviva.com/media
- An ISDN facility is available for studio quality interviews.Call the press office on 01603 683820