Aegon wraps up sale of accident insurance provider Stonebridge

Aegon has wrapped up the previously announced sale of Stonebridge, a UK-based provider of accident insurance products, to Global Premium Holdings, for about £60 million.

Headquartered in London, Global Premium Holdings is part of Embignell group. Global Premium Holdings provides a range of accident and sickness insurance policies.

The deal was signed in October 2020. Aegon at that time said that the sale would simplify its business profile further.

Aegon wraps up the sale of accident insurance provider Stonebridge. Photo courtesy of TeunSpaans/Wikipedia.org.

The Dutch life insurance company said that the sale of Stonebridge also aligns with its strategy to actively manage its portfolio of businesses. Under this strategy, Aegon intends to allocate capital to businesses that have a larger potential for an attractive return on capital, and where the insurer is well positioned for growth.

Aegon stated: “The transaction will not have a material impact on Aegon’s capital position and results.”