As part of its phased withdrawal from Ireland, Ulster Bank has agreed a deal with Aviva Direct Ireland for the transfer to Aviva of renewal rights in relation to its home and car insurance books.
Ulster Bank said that affected customers do not need to take any action and it will write to them shortly to communicate this change and what it means for them.
The transfer will take effect on a rolling basis from September 1.
It relates to renewal rights for car and home insurance policies which are underwritten by Aviva Insurance Ireland, for which the bank acts as insurance intermediary for Ulster Bank customers.
The bank said that since customer policies are already underwritten by Aviva with Ulster Bank as the intermediary, there will be no change to the terms and conditions of their existing policies until their renewal date.
When a customer's current insurance policy expires, Aviva Direct will automatically issue a renewal quote before the renewal date and outline the terms of renewal cover.
At that point, customers can renew the policy or seek alternative cover with another provider, as they could have done previously.
Ulster Bank said it will write to customers to inform them of this transfer of renewal rights.
Once the transfer starts customers will continue to receive correspondence as required from Ulster Bank until their renewal date and their policies will continue to be serviced and administered by Aviva up to the renewal date.
Ulster Bank Chief Executive Jane Howard said today's announcement of this transfer to Aviva Direct is one more step in our phased withdrawal from the Republic of Ireland.
"I am happy to inform our customers that they don't need to do anything until their policy comes up for renewal. We will be writing to customers in this regard to ensure that they remain supported throughout the transfer," Ms Howard added.
Ulster Bank announced a phased withdrawal from the Republic of Ireland in February 2021.
The bank, which is owned by UK lender NatWest, has 1.1 million customers here, along with 2,800 staff in 88 branches around the country.
