Aviva snaps up Barclays home insurance portfolio
Aviva has acquired Barclays UK’s home insurance portfolio comprising 350,000 customers and bolstering its retail presence.
Aviva’s 18-year strategic partnership with Barclays has seen the insurer administer, underwrite, and provide servicing and claims management for Barclays’ home insurance customers.
Owen Morris, MD personal lines at Aviva UK General Insurance, said: “This is a fantastic opportunity to acquire an established home insurance book and reflects the strong relationship we’ve had with Barclays for 18 years. It is an important strategic step in growing our direct personal lines portfolio and achieving our One Aviva ambitions.”
The acquisition is set to complete in August. Barclays UK home insurance customers have been notified about the changes throughout June and July. Starting 31 August, policies will switch to Aviva, allowing customers to manage their policies digitally via MyAviva, online or through the app. Customers are not required to take any action regarding this transition.
The acquisition does not affect Aviva’s cover for Barclays Travel insurance customers.
In May, Aviva further expanded its partnerships by signing a five-year distribution agreement with Nationwide Building Society.