Post Office car, home and van insurance sales hit half a million

Post Office Financial Services has confirmed its position as one of the fastest growing insurance providers in the UK as insurance policy sales passed the 500,000 mark.

Already the largest independent provider of travel insurance in the UK, the Post Office has built on this success over the past three years with Post Office Financial Services which was launched as a joint venture with Bank or Ireland in 2004.

Post Office Financial Services insurance products now include motor, home (buildings and contents) and most recently van cover for small businesses. Alongside this it has also successfully launched a range of lending and savings products.

The Post Office has strived to bring innovation and fair value to the insurance market: it was the first provider to offer a £50 cash back incentive to all new car insurance customers. From May 1 2007, it is launching a new promotion offering one month’s free cover to all new car, van or home insurance customers.

CEO of Post Office Financial Services Patrick Waldron said: “Our aim at launch was to become a major player in the financial services industry and now, reaching half a million customers with our insurance products alone, we are definitely on target to achieve this.

“We believe in offering customers fairer, easier and better insurance – for example our customers can already save up to 33 per cent on car insurance alone, offered through 14,300 branches, online or over the phone. With one month free it’s even better value.”