Scotiabank – specifically its insurance administrator and distributor BNS Insurance Agency – has selected Johnson Insurance as its exclusive partner for home and auto insurance product distribution.
A release said that, through the partnership, Johnson Insurance will distribute home and auto insurance under the ScotiaLife Financial brand. The new partnership agreement takes effect March 2019.
BNS Insurance Agency chose Johnson – part of the RSA Financial Group – following an RFP for its business. Johnson was also selected due to its “unwavering commitment to customers,” a statement from Scotiabank read.
The bank revealed that the new partnership will not impact or change current customer insurance policies; no action will be required as a result of the transition. BNS Insurance Agency, however, will provide customers with more information on how this partnership with a new distributor affects them as their policy renewal dates approach.
Based in St. Johns, Newfoundland, Johnson Insurance employs over 1,200 people across Canada. Considered one of the country’s leading benefits providers, Johnson had $1 billion in premium in 2017.
