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Builder nails insurance services deal with Westpac

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Johns Lyng Group has signed a contract with Westpac General Insurance to provide building and restoration services for insurance claims across the insurer’s national client base for an initial period of three years.

The agreement takes effect today and will cover the full scope of Johns Lyng’s insurance building services such as assessment, makesafe, restoration and repairs.

“[Westpac General Insurance] is one of Australia’s most well-known brands for home and contents insurance, and so to partner with them for the first time is another big win for us,” CEO Scott Didier said.

Media reports last week said Allianz is in “advanced discussions” to buy the Westpac-owned general insurance business. Allianz has declined to comment on the report, which valued the deal at $500 million.

Westpac said in May it was reviewing its non-banking operations, with options under consideration including a potential sale of the general and life insurance businesses.