Aviva is back on the aggregators, just two and half years after coming off price comparison sites to concentrate on their own direct arm.
Aviva will launch a new online direct motor insurance offering in summer in a bid to expand its presence on price comparison sites.
“We continue to explore new routes to market and plan to extend our distribution through aggregators in the summer with a new, separately branded internet-only offering,” the company said in its Q1 2011 interim management statement.
Aviva unit Norwich Union withdrew from aggregators in September 2008 after launching its own price comparison service.
The company also revealed that it had extended its exclusive general insurance distribution deal with banking group HSBC to 2016.
The deal will be seen as a big achievement for Ant Middle, who was recruited from AXA commercial director to head up Aviva's strategic partnerships.
The deal, first signed in 2007 and intended to last for five years, allows HSBC customers to buy Aviva home, travel and creditor insurance through the bank’s branches, over the telephone and online.
Aviva has also been appointed HSBC’s preferred strategic partner across the UK and Europe.
Aviva posted positive general insurance results in the UK and group-wide. In the UK, general insurance net written premiums (excluding health and group reinsurance) increased 20% to £1.1bn in Q1 2011 from £913m in Q1 2010. The UK GI combined ratio improved by six points to 98% from 104%.
The group-wide general insurance combined ratio was 97% (Q1 2010: 102%), and net written premium came in at £2.7bn (Q1 2010: £2.5bn).
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