Ageas UK and Volkswagen Financial Services (UK) LTD (VWFS) have entered into an agreement that will see customers buying an Audi, Volkswagen, SKODA, SEAT or Volkswagen Commercial Vehicle within the Group’s retailer network benefiting from a new, fully branded Motor insurance proposition from April 2015. Under the agreement, Ageas will underwrite the proposition alongside a selected panel of insurers which it will also manage.
Volkswagen Financial Services is part of the global Volkswagen motor group which in the UK sells around 500,000 vehicles each year. The VWFS portfolio of services include dealer and customer financing, leasing, banking and insurance activities, fleet management and mobility offerings.
Robert Cottrell, Head of Insurance for UK Market and International Development at VWFS said: “We are really pleased to be partnering with Ageas on our new Motor insurance proposition. This is the start of many exciting changes planned within the VWFS insurance area for 2015 strengthening the link between the retailer network, our customers and our brands; further demonstrating our continuing commitment to focus on putting customers at the heart of our business.”
Ant Middle, MD Ageas Partnerships said: “It’s fantastic news that we will be working alongside Volkswagen to support their customers and we’re excited about the opportunities this partnership creates. Volkswagen is well known for its quality products and their decision to choose Ageas to build and develop its insurance proposition underlines their trust in our team. This new deal reinforces our ambition to grow our partnerships business.”
The Volkswagen deal follows a number of other partnerships confirmed recently including the extension of the Tesco Underwriting and John Lewis relationships and a new strategic partnership with Virgin Money which will also be launched in 2015.