Royal & SunAlliance has begun the process of migrating half a million Paymentshield policies following its landmark deal with the wholesale broker.
Under the new contract, R&SA will underwrite Paymentshield buildings and contents policies on an exclusive basis.
Julie Hopes, R&SA affinity managing director, said: "The implementation of the Paymentshield policies represents a significant achievement for R&SA. We have developed an effective working relationship with them, enabling us to provide customers with the highest level of service. We are delighted with how things have progressed so far and look forward to a long and successful partnership with Paymentshield."
Chris Traynor, sales and marketing director at Paymentshield, added: "This is an exciting new phase for us in terms of business development. Paymentshield has gone through a tremendous growth phase in the last couple of years and we are continuously trying to improve our proposition to the intermediary market.
“The collaboration with R&SA is the result of a comprehensive tender process and the new relationship is a critical step for our continued progression. We believe that in conjunction with R&SA Paymentshield can provide the best possible offer to both intermediaries and policyholders."
