The Portman Building Society has chosen Axa Insurance at the expense of Royal & Sun Alliance (R&SA) to underwrite its household insurance account. The move will see Portman put a freeze on its rates until 2005.
R&SA had underwritten the account since 1997. However, following a review of the contract, Axa will take on the account for all new and existing business on 1 February 2004. Matthew Wyles, group development director at Portman, said: 'Despite stiff competition we could not fail to be impressed by Axa's approach which was focused, professional and commercial.' Paul Bridge, personal distribution director at Axa, added: 'This new partnership represents an important strategic alliance with one of the UK's leading building societies, and again demonstrates the strength of Axa's specialist pr...
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