• Sainsbury’s Bank and Allianz UK have entered into an agreement for Allianz UK to offer replacement car and home insurance policies to existing Sainsbury’s customers
• This announcement continues the transition of Sainsbury’s financial services towards a model where products are delivered by dedicated brand partners
• There will be no immediate change for customers
30 July 2025 – Sainsbury’s Bank plc (“Sainsbury’s Bank”) has entered into an agreement with an Allianz UK group company, Liverpool Victoria Insurance Company Limited (“Allianz UK”), to offer replacement policies to existing Sainsbury’s Bank car and home customers, when those policies come up for renewal. Today’s announcement marks another milestone in the ongoing transformation of Sainsbury’s Bank after Sainsbury’s announced a phased withdrawal from its core banking business last year.
The agreement gives Allianz UK the right to offer replacement policies, at the point of annual renewal, to existing Sainsbury’s home and car insurance customers. 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 as a result of this new agreement. There is no change to Sainsbury’s life, travel and pet insurance products or Argos pet and care insurance products.
Today’s news follows announcements during the last financial year of the sale of Sainsbury’s Bank’s personal loan, credit card and retail deposit portfolios to NatWest Group and ATM business to NoteMachine and of the Argos Financial Services cards portfolio to NewDay Group.
This is consistent with Sainsbury’s focus on its core retail business and will allow the retailer to continue to benefit from long-term financial services income streams that have a stronger connection to its retail offer.
Car and home insurance customers do not need to take any immediate action as a result of this announcement. There will be no immediate changes to customers’ existing Policy terms and conditions as a result of this new agreement.
Bláthnaid Bergin, Sainsbury’s Chief Financial Officer, said: “Today’s announcement reflects our continued commitment to working with trusted partners who share our values and focus on delivering for customers. That’s why I’m pleased to confirm our new agreement with Allianz UK, a respected business with deep expertise in the insurance sector. Their experience and customer-first approach make them 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.”
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.
“It underlines the strides we’ve made in the UK market over the past year as we seek to reach new customers and offer an increased choice of products. We are continually evolving our offering and our distribution footprint to create seamless and high-quality customer experiences as we grow and strengthen Allianz in the UK.”
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About Sainsbury’s
Offering delicious, great quality food at competitive prices has been at the heart of what we do since John James and Mary Ann Sainsbury opened our first store in 1869. Today, inspiring and delighting our customers with tasty food remains our priority.
Driven by our passion for food, together we serve and help every customer. We help everyone eat better by enabling customers to improve their diets while reducing their impact on the environment, one plate at a time.
Our focus on great value food and convenient shopping, whether in-store or online is supported by our brands – Argos, Habitat, Tu, Nectar and Sainsbury’s Bank. Sainsbury’s has over 600 supermarkets and over 800 convenience stores. Argos is a leading digital retailer and is the third most visited retail website in the UK, with over 80 per cent of its sales starting online. Argos is conveniently available for customers to collect from hundreds of Sainsbury’s stores. Digital and technology enables us to adapt as customers shop differently and our profitable, fast-growing online channels offer customers quick and convenient delivery and collection capability.
Our colleagues are at the heart of serving and helping our customers every day and are vital to our success, now and in the future.
About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain including Allianz Insurance.
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with around 128 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 768 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.9 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2024, over 156,000 employees achieved total business volume of 179.8 billion euros and an operating profit of 16.0 billion euros for the group.
* As of December 31, 2024. Including non-consolidated entities with Allianz customers.
** As of March 31, 2025.