Asda Money has entered the commercial insurance market and has struck up a partnership with broker Everywhen to offer business insurance. This is the first time Asda Money has extended its reach beyond personal lines and it said the new proposition would target sole traders, start-ups and SMEs across multiple sectors.

Asda Money cited the fact that around 8% of UK adults own and operate their own business as a driving factor in its decision to move into commercial lines.

Jenny Maden, head of insurance, Asda Money, said: “This offering will not only be extremely relevant to our customer base, but a significant step forward in expanding our existing suite of financial services products, to support hardworking families.”

David Wood, trading director at Everywhen added: “This collaboration will provide Asda Money customers with access to a comprehensive range of commercial insurance products, tailored to support a wide spectrum of UK businesses.

“From tradespeople and accountants to retailers and manufacturers, and everything in between, our insurance solutions are designed to meet the unique needs of modern businesses, whether you're just starting out or scaling up.”

Everywhen rebranded from Ardonagh Advisory earlier this year.