Allianz UK has agreed to offer replacement policies to existing Sainsbury’s Bank car and home customers when they come up for renewal.
Last year, Sainsbury’s announced a phased withdrawal from its core banking business, with it moving to a model where products are delivered by brand partners.
Under the new agreement with Allianz UK, customers who elect to accept a replacement policy invitation will start to transfer from November 2025, as existing annual policies start to expire.
There will be no changes to customers’ existing policy terms and conditions, while Sainsbury’s life, travel and pet insurance products or Argos pet and care insurance products will remain the same.
Bláthnaid Bergin, Sainsbury’s chief financial officer, said: “[Allianz’s] experience and customer-first approach make it an ideal partner to look after our customers’ future needs.
“I’m also pleased to reassure customers that there will be no immediate changes to their existing policies and they can continue to expect the same high standards of service.
“We started the phased withdrawal from our core banking business in January last year and are successfully on track towards a distributed model where the financial services products that we continue to offer will be provided by dedicated financial services providers.
“Today’s news means we will focus more of our time and resources going forward on growing our core retail business.”
‘Proud moment’
Car and home insurance customers do not need to take any immediate action as a result of this announcement.
Serge Raffard, managing director for personal lines at Allianz UK, said: “This agreement is a proud moment for Allianz UK and I’m excited to bring our insurance expertise to support Sainsbury’s Bank customers with their future insurance needs.
“This announcement is between two organisations who look after customers across the UK every day and it’s a relationship built on shared values and a mutual commitment to customer excellence.”
