Equity signs affinity deal with banking giant

Equity Direct Broking (EDBL) has signed an affinity partnership agreement with Santander Insurance Services UK (SISUK), part of Banco Santander.

A new private motor policy branded ‘Santander Car Insurance’ will include free breakdown cover and initially be aimed at Abbey’s customer base – in the UK Banco Santander owns Abbey, together with Alliance & Leicester and Bradford & Bingley.

In addition, Santander Car Insurance will be available on-line through major aggregators including GoCompare, Moneysupermarket.com, TescoCompare and InsuranceWide. The company said that further aggregator developments will take place over the course of the next 12 months.

Santander Car Insurance policies will feature free breakdown cover for life, additional named drivers will earn no claims bonus and Abbey staff will benefit from key cover as standard.

David Birch, EDBL sales director said: “Santander’s combined business makes it the third largest deposit taker and second largest mortgage lender in the UK; Equity’s private car insurance will compliment its wider product range aimed at supporting this important retail customer base.”

The Santander affinity partnership follows a number of Equity collaborations with high profile brands including Renault, first direct and Harley-Davidson.

Abbey’s head of direct insurance, Colin Greenhill added: “Equity has developed a proven track record of delivering tailored motor insurance products. The group’s in-depth sector experience, flexibility and competitive rates make it an ideal trading partner.”