Sovereign Bank and Liberty Mutual Launch Insurance Alliance

BOSTON, July 20 /PRNewswire/ -- Sovereign Bank, a part of the Santander Group, and Liberty Mutual Insurance, a top 10 provider of auto and home insurance, today announce an alliance that will provide Sovereign customers with Liberty Mutual's high quality personal insurance products at an unparalleled convenience.  

Liberty Mutual is appointing up to 200 Sovereign mortgage development officers to exclusively sell its auto, home, renters and personal liability policies in 721 Sovereign branches across eight states (Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island).

Additionally, any Sovereign customer could save on Liberty Mutual insurance by calling (888) 470-2147 or going online to www.sovereignbank.com/protecting.  In addition to providing competitive rates, Liberty Mutual will support Sovereign customers with after-hours service, 24-hours claims assistance, and discounts for multiple policies.

"Home insurance, automobile insurance and personal liability insurance are vital for the protection of our customers' assets," said Nuno Matos, Head of Retail Business at Sovereign Bank.  "Sovereign's alliance with Liberty Mutual strengthens our commitment to all of our customers, by increasing the convenience of giving them quality insurance products from their bank."

"Our customers enjoy doing business with us the way they choose – whether in person, by phone or online, and this is yet another innovative way to bring insurance products to consumers in a convenient fashion," said Robert Maloney, Liberty Mutual senior vice president, Affinity Marketing.  "We are pleased to be adding this relationship with Sovereign Bank, a highly respected banking brand that espouses the same values of customer service and personal responsibility."

About Sovereign Bank

Banco Santander (SAN.MC, STD.N) is a retail and commercial bank headquartered in Spain. Founded in 1857, Santander had $1.665 trillion in managed funds at the end of 2009. Santander has 90 million customers, approximately 14,000 branches – more than any other international bank – and over 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm. For more information on Santander, visit http://www.santander.com

Sovereign Bank, a subsidiary of Banco Santander, S.A., is a financial institution with principal markets in the northeastern United States. Sovereign has more than 700 branches, over 2,300 ATMs and approximately 8,000 team members.  For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 877-SOV-BANK.

About Liberty Mutual Group

"Helping people live safer, more secure lives" since 1912, Boston-based Liberty Mutual Group (www.LibertyMutualGroup.com) is a diversified global insurer and fifth-largest property and casualty insurer in the U.S. based on 2009 direct written premium.  Liberty Mutual Group ranks 71^st on the Fortune 500 list of largest U.S. corporations, based on 2009 revenue.  The company has over 45,000 employees located in more than 900 offices throughout the world.

The eighth-largest auto and home insurer in the U.S., Liberty Mutual (www.libertymutual.com) sells full lines of coverage for automobile, homeowners, valuable possessions, personal liability, and individual life insurance.  The company is an industry leader in affinity partnerships, offering car and home insurance to employees and members of more than 12,000 companies, credit unions, professional associations and alumni groups.

SOURCE Sovereign Bank