Tesco Underwriting Limited

In September 2009, Ageas and Tesco Bank announced an insurance venture, Tesco Underwriting (TU).

TU provides motor and home insurance to Tesco Bank's 1.5 million customers.  Ageas uses its considerable expertise to provide claims management.  Ageas owns 50.1% of the entity.  Tesco Bank is responsible for customer strategy including sales and service call centres, retail pricing, marketing and proposition development.