Travel insurance partnership formed by Tesco Bank and Fortis UK

Friday, 24 September 2010 12:00

Tesco Bank and Fortis UK have entered into an agreement that will provide sales and service support, underwriting and claims management to the former's travel insurance customers.

The deal is in addition to the previously announced partnerships for motor and household cover.

It is a five-year agreement that is worth around £59 million in gross written premiums, as Tesco Travel Insurance attracts around 170,000 customers each year.

Benny Higgins, chief executive of Tesco Bank, described the step as an important move for the organisation's development.

He added: "Fortis UK is a great fit as a partner for our travel insurance business."

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