AXA Commercial Lines and Personal Intermediary has signed an exclusive five year capacity deal worth £150m with Prestige Underwriting Services.
The deal will see AXA provide Prestige with capacity to underwrite non standard household and motor products and ties in with AXA’s stated aim of broadening its footprint in the personal lines market.
The agreement is an extension to an existing partnership with Prestige which provides a range of non-standard household and motor products to over 500 brokers.
Karen Hogg, Managing Director, Personal Intermediary at AXA, comments: “We’re delighted to be able to continue working with Prestige as their knowledge and expertise allows us to offer a much wider range of products to customers.
“One of the reasons that our relationship with Prestige works so well is that it is based on mutual benefits with neither party holding the upper hand and this is exactly the type of relationship we want to establish with all our partners.
“I am convinced that Prestige is well positioned to continue growing in this particular market, and will support us in being able to offer brokers an extended range of insurance products, and extend our reach into niche markets.”
Trevor Shaw, Managing Director at Prestige, comments: “Prestige has enjoyed a strong business relationship with AXA and we are delighted to confirm this five year agreement to provide capacity for Prestige household and motor products. This agreement reflects the tremendous commitment and energy of the people in our respective business teams and will allow us to provide continued support to our existing panel of brokers as well as extending our reach to new brokers throughout the United Kingdom.”