Ageas UK and Virgin Money have entered into an agreement that will see both businesses work together to create a range of Home and Motor Insurance products for the UK market during 2015.
Under the agreement, Ageas will support Virgin Money by providing sales, servicing, administration and claims management support. Home Insurance products will be solely underwritten by Ageas and Motor Insurance will be underwritten by a selected panel of insurers managed by Ageas.
Virgin Money provides award-winning retail banking services to 2.8 million customers through a range of channels, including digital (online and mobile), intermediaries, call centres and a national network of 75 stores and five customer lounges.
Darrell Evans, Director, Banking, Insurance and Investments, Virgin Money, said: “We are delighted to be partnering with Ageas to provide our Home and Motor insurance proposition. Our products will be straight forward, transparently priced and will focus on helping our customers when they need it most. I am looking forward to working closely with Ageas for the benefit of our customers.”
Ant Middle, Managing Director, Partnerships at Ageas said: “I’m delighted that we are building a long term strategic relationship with one of the UK’s most admired brands. Virgin Money is a progressive and customer focused business and our combined values and expertise are entirely complementary. We are excited by this new opportunity particularly as it underlines Ageas’s ambition to grow our partnerships business. We can’t wait to get started.”
Andy Watson, CEO of Ageas UK said: “We’re proud to be working closely with Virgin Money and this is great news for us. We have set out a clear strategy to grow and simplify our Retail business of which Partnerships, under Ant’s leadership, is a very important part. This new partnership underlines both the hard work of the team and the confidence of a strong brand like Virgin Money in our ability to deliver for them and their customers.”