Legal & General and Skipton Building Society announce general insurance partnership
Legal & General and Skipton Building Society have today announced a 5 year general insurance distribution agreement. Skipton Building Society customers will be able to purchase Legal & General buildings and contents insurance online, on the phone, or through a branch. The general insurance distribution agreement was signed in September 2016, with new business and renewals to begin shortly.
Mark Holweger, Managing Director, Legal & General Insurance Partnerships (photo, right) said: “It’s great news Skipton Building Society has chosen us as their general insurance partner, and I look forward to providing their customers with great value general insurance products and excellent customer service.”
Legal & General and Skipton Building Society plan to grow and expand the distribution partnership, by offering the general insurance product on aggregator sites under the Skipton brand, and by providing customers with the same pricing deal, whether they purchase their general insurance online, on the phone, or in a branch.
Kris Brewster, Skipton’s Head of Products, said: “A property is more than bricks and mortar, it’s a home. And we’re always working to make sure our members can protect the things they love most. So after a thorough review of our home insurance offering, we’re delighted to be partnering with Legal & General. They’ve been insuring homes for over 90 years; and together with our 163 years of helping people save up for their dream home, we believe we’ve entered a great partnership.
Legal & General Insurance has distribution arrangements for general insurance and protection products with over 15 banks and building societies. Our product offering is award winning, and 5 star defaqto rated. In 2015 Legal & General Insurance wrote over £1.7 billion in total UK gross premiums, with its general insurance operating ratio at 89%.
Skipton is the UK’s fourth largest building society, with over 858,000 customers, £18.9bn of assets and a national presence represented by its network of 95 branches and 3 agencies. Skipton offers mortgages, savings and restricted financial advice. It heads the Skipton Building Society Group, whose subsidiary companies include Skipton International Limited and significant interests in estate agency and related businesses through the Connells group.
For more information please contact:
Laura Doyle, Head of Investor Relations
Tel: 020 3124 2088
Sujee Rajah Investor Relations Manager
Tel: 020 3124 2047
Richard King, Head of Group Corporate Communications
Tel: 020 3124 2095
Alyson Bowcott PR Manager
Stacey Stothard, Senior Corporate Communications Manager, Skipton Building Society
Tel: 01756 705839
Notes to editors:
Legal & General Group Plc:
Established in 1836, Legal & General is a leading provider of insurance, savings and investment management products in the UK. The Group has a market capitalisation of £12.7bn (as at 19 September 2016) and is responsible for investing £841.5bn worldwide (as at 30 June 2016) on behalf of investors, policyholders and shareholders. Legal & General has over seven million customers in the UK for life assurance, pensions, investments and general insurance plans and over one million customers in the US who rely on us for life assurance. In 2015, Legal & General's operating profit (on the IFRS basis) was £1,455m and adjusted earnings per share were 18.58p for the period, an increase of 14% and 11% respectively.
For more information on Legal & General, please see http://www.legalandgeneralgroup.com/
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