Aviva withdraws agency from all GRP companies
Aviva has withdrawn its agency from Global Risk Partners, industry sources have confirmed.
The decision to end all business with the consolidator’s broking subisidaries comes only a month after a dispute between the two companies over contracts for Alan &Thomas, and a year after Aviva cancelled its agency with another GRP broker, Marshall Wooldridge.
Neither GRP nor Aviva were available for comment.
Aviva has complained about brokers chasing higher commissions, and has argued that this could be to the detriment of customers if brokers were to place business with the biggest payer, rather than with insurers that provide the most appropriate cover.
Consolidators argue that they are only putting business out to tender to get the market rate.
As a percentage of GRP’s total book of up to £650m GWP, Aviva is estimated to account for only low single figures, which would work out at a total of up to about £25m.
However, up to 35% of deals made by Alan & Thomas were believed to have been done through Aviva, and it is understood this business was taken to Allianz. Allianz declined to comment at the time.