Fortis signs £59m travel deal with Tesco
Fortis has agreed a five year deal with Tesco Bank to provide underwriting, claims management and sales and service support to Tesco Bank’s travel insurance customers.
The deal is an addition to the previously announced motor and household partnership and Fortis will start to underwrite policies by the end of the year.
The agreement is worth around £59 million in gross written premiums with Tesco Travel Insurance attracting around 170,000 customers each year. According to the company, the partnership will lead to the creation of an additional 30 new Fortis UK jobs, mainly based in Fortis' site in Stoke.
Barry Smith, chief executive of Fortis UK, commented:
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