Homeprotect, which is part of Avantia Group, has announced that Accredited Insurance (UK) Limited will become a co-insurer for the provider, joining Axa UK, which has a longstanding capacity arrangement with Homeprotect. Under the agreement, Axa will retain an 80% share of the book of business.

Avantia Group suggests the move to a dual insurer model will create more flexibility in its capacity structure and believes this will provide opportunities for Homeprotect to be more competitive in its pricing.

Mark Eastham, CEO at Avantia Group, said: “The addition of Accredited marks an exciting new chapter. This is a new partnership built on strong cultural alignment and shared ambitions and I believe that matters enormously when it comes to delivering for our customers over the long term.”

Stuart McMurdo, CEO at Accredited Insurance (UK) Limited, added: “It is essential to our business that we work with companies that believe in long term partnerships delivering good outcomes for all. The Avantia approach aligned well with our business philosophy and we are excited to support the business in achieving its growth ambitions and continued strong commercial performance.”

Jon Walker, CEO at AXA Insurance UK, said: "This next phase in our ongoing relationship with Avantia Group strengthens our valuable partnership and builds on our ambitions for the future. We have a leading role in offering comprehensive coverage and excellent service and we are excited to be working alongside Accredited to deliver more flexibility and positive experiences for home insurance customers.”