Netherlands-headquartered insurance group Aegon has crossed the finish line in its £60 million sale of UK accident insurer Stonebridge.
The offloaded company, which has been closed for new business since 2014, specialises in accidental death and hospitalisation products and provides policies to around 200,000 customers across the UK, Germany, France, Spain, Italy, the Nordics, and Ireland.
As previously announced, the deal with London-based Global Premium Holdings is aimed at further simplifying the business profile of Aegon.
“This is in line with Aegon’s strategy to actively manage its portfolio of businesses, allocating capital to those businesses with a greater potential for an attractive return on capital, and where Aegon is well positioned for growth,” explained the insurance group, whose capital position and financials will not be impacted by the transaction.
