Royal London buys Aegon UK's individual protection book

Customers’ policies are expected to transfer to Royal London in 2024

Jenna Brown
clock • 1 min read

Royal London, the mutual insurer, is to acquire Aegon UK’s individual protection book of business, subject to court approval.

The deal will see the life insurance, critical illness and income protection policies for more than 400,000 customers transfer to Royal London. Royal London group chief executive Barry O'Dwyer said: "We are delighted to be welcoming over 400,000 new protection customers and their advisers. Combined with over 900,000 existing customers who already trust Royal London to protect their families against life shocks, this transaction strengthens our position in the UK protection market. "Our reputation for outstanding customer service means that customers and advisers will be reassured that...

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