£40m Axa deal boosts troubled Rok

BUILDING firm Rok had some better news for investors yesterday, after landing a £40 million deal for home emergency services with insurance giant Axa.

The Exeter-based firm said the three-year contract with Axa subsidiary Inter Partner Assistance would lead to a "significant" increase in the number of home emergency claims it handles, and create 50 jobs.

The win comes after Rok reported half-year losses of 3.8 million earlier this month due to job losses and restructuring at its troubled plumbing division.

Rok, which has also suspended its chief financial officer, called shortcomings in financial and operational controls at the division a "regrettable chapter" in the company's history.

Inter Partner Assistance has been in the UK market since 1986 and is one of the largest property emergency assistance providers among financial services firms. The contract will be handled by Rok's contact centre in Mansfield.

Rok chief executive Garvis Snook said the deal was "a significant success" for the firm's maintenance and improvement division. He added: "It reinforces Rok's position as number one in the buildings insurance repairs and emergency market."