Insurer Allianz to underwrite SME business for bank’s customers


Allianz Commercial has signed a long-term deal with Barclays to provide commercial insurance packages for its UK SME customer base.

Allianz will underwrite tailored packages, which will include property and casualty insurance to specialist sectors, such as marine transit and engineering inspections.

Allianz will also provide a branded sales, service and claims capability for all new business, which will operate from Allianz’s new premises in Lancaster.

The insurer said it expects to recruit as many as 80 employees as part of the dedicated operation within the next year.

Allianz SME markets director David Martin said: “To be selected by Barclays is a tremendous achievement for Allianz Commercial and demonstrates the strength of our SME proposition.

“We believe that the innovation, creativity and enhanced technology behind this solution, which was developed specifically to meet the needs of Barclays’ customers, provides a new, exciting and substantially different proposition to the bancassurance sector.”

Barclays Business managing director Sue Hayes added: “We are delighted to be working with Allianz Commercial. We look forward to delivering the best possible insurance solution for our business banking customers.

“One that is flexible and innovative, allowing businesses to grow and develop in the knowledge that they have insurance in place that will protect them if something goes wrong.”