Three-year commercial and personal lines deal starts on 1 May
Broker network Compass Broker Services has signed a three-year deal for its members to place commercial and personal lines business with insurer Ageas UK.
Under the deal, Giles-owned Compass, which contains broker networks Westinsure, Select and Eden, is expected to place more than £20m of gross written premium (GWP) with Ageas UK over the three years.
The deal begins on 1 May.
Ageas UK retail and distribution chief executive Mark Cliff said: “This builds on our existing profitable relationship through Westinsure and we are excited about broadening this foundation into the new Compass Broker Services business.”
Compass managing director John Lincoln added: “In a highly competitive market we were particularly impressed by the work Ageas have done to differentiate themselves and we are pleased that more than 200 brokers in our networks will benefit from this arrangement.
“This announcement is a further endorsement of our new network proposition and a sign of our continued momentum since our launch in January this year. Our new broker members now control circa £100m GWP and overall Compass membership control circa £400m GWP.
“We are very much looking forward to working with the highly skilled team at Ageas.”
No comments yet