The Post Office has signed a new deal with affinity insurance provider Junction.
The agreement will last for five years and will build on the existing partnership that the companies signed in 2004. As the Post Office seeks to build on its market share, Junction will work with the firm on marketing strategies aimed at increasing customer acquisition and retention.
Patrick Waldron, chief executive of Post Office Financial Services, said: “Our partnership with Junction has already proved very successful in building our motor and home insurance business and we look forward to working together to develop the business and grow our book even further.”
The Post Office is one of the most rapidly expanding insurers in the affinity market and provides over 700,000 existing home and motor policies . Recently, the firm’s head of savings, Richard Norman urged people to keep saving by taking advantage of tax breaks offered by accounts such as ISAs .