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Virgin Money agrees strategic partnership with Ageas Retail to provide Home and Motor Insurance

17/12/2014

This information is intended for use by journalists and is correct at the time of publication.

Virgin Money has today announced that it has entered an agreement with Ageas Retail (“Ageas”) that will see both businesses work together to create a range of Home and Motor Insurance products for the UK market.

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 Insurance Limited (AIL) and Motor Insurance will be underwritten by a selected panel of insurers managed by AIL.

Ageas is a leading provider of award-winning Personal, Commercial and Protection insurance solutions in the UK. Insuring around nine million customers and working with a range of partners, Ageas is recognised for delivering a consistent and high-quality customer experience. It employs around 6,000 people with offices based across the UK.

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 straightforward, 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, Ageas said: “I am 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’ ambition to grow our partnerships business. We can’t wait to get started.”

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Media Contacts

Virgin Money Press Office
0191 279 4676

press.office@virginmoney.com


NOTES TO EDITORS

About Virgin Money

  • Virgin Money provides savings, mortgages, credit cards, current accounts, pensions, investment and protection products
  • Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders
  • Virgin Money is the official sponsor of the London Marathon, the biggest annual one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion, including funds raised through Virgin Money Giving the not-for-profit online fundraising service, since 2010.

About Ageas

Ageas UK is a leading provider of award-winning Personal, Commercial and Protection insurance solutions in the UK. Ageas UK distributes both its Non-Life and Life products through a range of channels including brokers, IFAs, intermediaries, affinity partners and the Internet, as well as through its retail strategy and its wholly or partially-owned companies trading as Ageas Insurance, Ageas Protect, Ageas Retail, Tesco Underwriting and Ageas’s Retail brands which include Castle Cover, Kwik Fit Financial Services, Ageas Insurance Solutions and RIAS.

Insuring around nine million customers and working with a range of partners, Ageas is recognised for delivering consistent and high-quality customer experiences. It employs around 6,000 people with offices based across the UK.

Virgin Money Personal Financial Service Ltd - Registered in England and Wales (Company No. 3072766). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised and regulated by the Financial Conduct Authority.