Insurer Building Block gets 200,000 new clients with latest deal

Firm looks to expand in the niche insurance sector with latest move

Insurer Building Block gets 200,000 new clients with latest deal

Insurance News

By Louie Bacani

European insurer Building Block Insurance (BBI) has gained 200,000 new clients thanks to its latest partnership with an automobile club in Portugal.

The insurance firm, which boasts a fast-growing niche and specialist insurance business in the UK, has teamed up with Automovel Club de Portugal (ACP) to sell health excess insurance to its 200,000 members.

Joao Figueiredo, BBI’s head of business for Spain and Portugal, said the product was designed and launched in the UK for use throughout the European Economic Area.

“Our ambitions for growth in the niche and specialist insurance sector are strongly predicated on expanding our footprint throughout the EU, and we now have distribution deals for a number of products in Spain, the Republic of Ireland, Iceland and Germany,” Figueiredo said.

Brierley explained that BBI’s product, which covers the amount of excess clients would be responsible for up to the policy limit of €2,000, will be sold via a distribution arrangement with ACP Mediação de Seguros.

The said firm is a brokerage created as a joint venture between ACP and Villas-boas, one of the largest brokers in Portugal, to sell ACP insurance products only.

Related stories:
Insurtech firm backed by Warren Buffett enters UK
Carole Nash announces ‘landmark’ deal

Keep up with the latest news and events

Join our mailing list, it’s free!