Aviva Vida y Pensiones, the agency channel of Aviva, and the Pelayo Group, started to operate jointly in Spain following the official signature of the agreement last 23rd December.
- The agreement entails the distribution of life products by the networks of Pelayo and the expansion of the portfolio of Aviva Vida y Pensiones, which will start to market home and vehicle products
- The joint venture, held 50% by Aviva Vida y Pensiones and Pelayo, will start to market the products as from February
Aviva Vida y Pensiones, the agency channel of Aviva, and the Pelayo Group, started to operate jointly in Spain following the official signature of the agreement last 23 December. As from February, the networks of the Pelayo Group will distribute the life products of the joint company, Pelayo Vida. On its part, Aviva Vida y Pensiones will market the vehicle and home products of Pelayo.
Through this strategic alliance, Aviva Vida y Pensiones entered the shareholding body of the life company of the Pelayo Group, replacing within it the French group La Mondiale, from which it purchased the 50% holding which it owned in Pelayo Mondiale Vida.
According to David Angulo, Vice-chairman of the Board of Directors of Aviva España, “with this agreement, on the one hand Aviva Vida y Pensiones is expanding and significantly improving its offer to clients with non-life insurance, and on the other hand, our joint company will be the key to making the Life branch a fundamental line of business for Pelayo through all of its distribution networks.”
On his part, José Boada, chairman of the Pelayo Group, considers that: “The life branch will be an important pillar for achieving the loyalty of the client portfolio of the Group, and with Aviva the joint company will have all the experience and support of a highly specialised insurer that is knowledgeable about Spanish insurance”.
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For further information:
Seguros Pelayo
Cristina del Campo
Telephone: +34 91 592 0215
Email: gabineteprensa@pelayo.com
Aviva
Laura Villuendas
Telephone: +34 91 297 1817
Email: laura.villuendas@aviva.es
Lucía Carballeda
Telephone: +34 91 556 01 54
Email: lucia.carballeda@edelman.com
Notes to editors:
About Aviva
Aviva is the sixth insurance group in the world, and the leader in international insurance and long-term savings products. In Europe, it is the leader of the life insurance and pensions market.
Aviva in Spain is one of the leaders in the life insurance and pensions sector. It markets its products through professional brokers (Aviva Vida y Pensiones (life and pensions)) and by means of strategic alliances with some of the major Spanish savings banks (Bancaja, Caixa Galicia, Unicaja, Caja España, Caja Granada and Cajamurcia) www.aviva.es
About Pelayo
Seguros Pelayo occupies the second place in the ranking of mutual insurance companies in Spain, with a portfolio of almost 1,500,000 policyholders and a turnover of 515 million Euros per year. Although the highest business volume is centred in vehicle and home insurance, it operates in all branches, offering its clients a high range of products and constantly diversifying. Also, Pelayo is characterised by its multi-channel distribution.
The major objective of Pelayo is centred on being the major insurer in terms of quality perceived by the Client, as it has as its disposal a multiplicity of quality control mechanisms such as the Defender of the Policyholder, the Guarantee of service and clause 1:24:72, the latest undertaking acquired by Pelayo in this sense.
Seguros Pelayo is the Official Sponsor of the Spanish Football Selection and will accompany ‘La Roja’ until its next great challenge in the Eurocup 2012. This undertaking as Insurer of the Selection is reflected with the launch of new products and services for its policyholders and, in general, for all fans.
Seguros Pelayo allocates part of its profits to social projects which, since it was set up in 2005, have been channelled through the Pelayo Foundation, which directed the available resources to the most vulnerable and disadvantaged communities, by means of projects in which its own employees also collaborate.
For further information on Pelayo, go to www.pelayo.com