Insurance package agreed
RSA signs five year deal with Nationwide
RSA Insurance is to underwrite all of Nationwide’s home insurance products after signing an exclusive five-year partnership deal.
The insurer, which takes over the contract from Direct Line, said the deal will cement its position as the market leader in home insurance and specifically in partnering with members of building society, banking and retail sectors.
Stephen Lewis, chief executive of UK and Western Europe at RSA, said: “This deal reaffirms our status as both a market leader and a preferred partner of some of the best known brands in the UK.
“As a leading home insurance provider, we are a natural partner to the world’s largest building society. We will be able to offer Nationwide’s members a high quality and competitive product designed around their needs, complemented by our first class service.”
Shares in RSA, whose chief executive is former RBS CEO Stephen Hester (pictured), were up 1.4% at 429p in early trade.