Fortis secures £20m Toyota contract

Fortis Insurance UK has won a £20 million contract to provide car insurance to Toyota customers.

Fortis said the offer in consultation with the UK partner of Aioi Insurance Toyota, will help it build its position as the third largest UK motor insurer.

Aioi Motor and General insurance claims will continue, and Fortis will be responsible for sales, administration and claims services. Fortis will be undertaking some activity guaranteed by Aioi.

Three-year contract will create about 70 new jobs in the UK offices in Stoke-on-Trent and Gloucester.

Barry Smith, CEO of Fortis UK, said, "expects" to work with Aioi.

"This new relationship is a significant step forward in our multi-channel distribution strategy, reinforcing our strength in the private car insurance market," Smith said.

"Our approach is customer-driven and market-leading performance are key ingredients for our growth in the global affinity, which recently secured the number of new compounds.

Final binding partnerships to be agreed within the next two months.

Toyota said the company is "pleased" with the cooperation with Fortis.