Fortis (Insurance UK) is to recruit almost 300 people in the Gloucester region over the next year as a result of two significant new business wins.
The leading general insurer announced recently that it had finalised a new partnership with Tesco Bank, through which Fortis will handle motor and household insurance for Tesco Bank's 1.5 million customers in a deal worth over £500 million in annualised gross written premium. In addition, Fortis has entered into exclusive discussions with Toyota (GB) PLC and its insurance partner in the UK, Aioi Motor and General Insurance Company of Europe Limited, to work together to provide branded motor insurance products to Toyota GB's 1.3 million UK customer base. Aioi Motor & General will continue to underwrite the branded motor insurance products marketed by Toyota GB with Fortis handling the sales, administration and claims services.
As a result of the new relationships, Fortis will be recruiting up to 300 new customer claims roles into its Brockworth office based in the Gloucester Business Park. Recruitment for the new staff will start in the coming months and details of how local people can register their interest in joining Fortis will be announced shortly.
Fortis is one of the UK's leading insurers with an existing customer base of around 7 million people. These new relationships will make Fortis the second largest car insurer in the UK.* The initial three year deal with Toyota (GB) PLC is subject to the agreement of the final binding terms, expected to be complete in the next few months.
Announcing the new jobs in Gloucester, Barry Smith, Chief Executive of Fortis UK comments:
"These two significant relationships are a very positive development for the business and will benefit the Gloucester economy where many of the new jobs will be based. The quality of people working in the Gloucester region is very high and we are delighted to be underlining our commitment to the area as a major local employer."
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Contacts
Natalie Shale, Fortis UK, 02380 352 724,
Vanessa Neill, Finsbury, 0207 251 3801,
Notes for editors:
*Based on EMB analysis of FSA returns published in 2008.
Fortis (Insurance UK) is a leading provider of award-winning personal and commercial lines insurance solutions in the UK. Fortis UK has two main divisions, manufacturing both non-life and life products, which are distributed through a range of channels including brokers, IFAs, intermediaries, affinity partners and the Internet, as well as various wholly or partially-owned companies (RIAS, Fortis Insurance Solutions, Affinity Solutions, Text2Insure and InsureTECH Systems).
Insuring around 7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. It employs almost 3,000 people with a head office based in Eastleigh and others in Belfast, Bournemouth, Gloucester, Haywards Heath, London, Redditch, Reigate and Stoke-on-Trent. In 2008, its non-life profit before tax and interest was £76 million and its non-life GWP was £760 million. Fortis launched a life and protection business in July 2008.
Fortis (Insurance UK) is part of Fortis, a global insurance group of significant scale with over EUR14bn turnover, 20 million customers and 10,000 employees worldwide.
Tesco Bank
- Tesco Bank is the UK's largest supermarket bank. Since their launch in 1997, TPF has grown to have nearly six million customer accounts across 28 financial products and services.
- Tesco Bank's principal activities are: general insurance - motor, home, pet and travel; credit cards and personal loans; personal savings; Tesco Compare and a network of cash machines (ATMs).
- Tesco Bank sells its products through multiple channels including in-store, by telephone and online.
- Tesco Bank is fully-owned by Tesco plc.
- Tesco Bank plc, Registered in Scotland No. 173199.
Registered Address: Interpoint Building, 22 Haymarket Yards, Edinburgh, EH12 5BH
Toyota Motor Corporation is one of the world's leading automakers, offering a full range of models under the Toyota and Lexus brands, from mini-vehicles to large trucks, with these vehicles being marketed in more than 140 countries. Toyota's operations in Europe are supported by a network of 28 National Marketing and Sales Companies in 44 countries, a total of 2,784 sales outlets and 8 manufacturing plants. Toyota (GB) PLC are responsible for the marketing and distribution of Toyota and Lexus vehicles in the UK.
Aioi Motor & General is a subsidiary of Aioi Insurance Company, Japan - the 4th largest insurer in Japan. Aioi have been involved in the underwriting of Toyota branded motor insurance products in the UK since 1997 and in 2004 they established Aioi Motor & General as a new Financial Services Authority (FSA) regulated UK entity with a mission of becoming the pre-eminent Japanese insurer in Europe providing first class products and services to key international Japanese companies and their clients.
The success of Aioi Motor & General can only be achieved by delivering superior value to its clients and providing them with real insurance solutions.