This partnership will see AXA UK become the sole underwriter of car and van insurance for Lloyds Banking Group’s extensive customer base of 27 million individuals. Currently, motor insurance under Lloyds Banking Group is provided by a panel of insurers, but the new agreement consolidates the underwriting under AXA’s stewardship.
“I’m excited to announce our collaboration with Lloyds Banking Group as we come together to deliver on meeting the evolving needs of our customers,” said Alain Zweibrucker (pictured), CEO of AXA Retail. “This partnership solidifies our commitment to the UK personal lines market and supports the growth of our business. It’s great news for both our customers and intermediary partners, and we look forward to launch in May 2025.”
Jeremy Ward, general insurance director at Lloyds Banking Group, noted the customer-centric benefits of the deal. “Peace of mind from a quality policy at the right price is what our customers want, and, working together with AXA, we’ll be enhancing our cover and offering greater choice to drivers for insurance that best suits their needs,” he said.
AXA UK is part of the AXA Group, a global leader in insurance and asset management, with operations in 50 countries. In 2023, AXA reported €102.7 billion in revenue and €7.6 billion in earnings.
Lloyds Banking Group is a major UK financial services provider, serving around 27 million customers across a wide range of communities.
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