Aegon, a provider of life insurance, pensions and asset management, has announced the sale of Stonebridge, a UK-based provider of accident insurance products, for £60 million.
The acquirer is London-headquartered Global Premium Holdings group, a subsidiary of Embignell group that provides a range of accident and sickness insurance policies.
Stonebridge is a direct-to-consumer insurer specialising in accidental death and hospitalisation products and has been closed for new business.
The sale is expected to be completed by the end of 2020.
Aegon says the transaction will further simplify its business profile, but have no impact on core business in the UK.
The £60 million acquisition figure includes the purchase price and dividends related to the transaction, and exclude a contingent consideration of up to £10 million.
The proceeds are equal to one times Stonebridge’s Solvency II Own Funds at year-end 2019.
The transaction is not expected to have a material impact on Aegon’s capital position and results.
Source: Reinsurance News
LinkedIn
Twitter
Facebook
Blue Marble and MAPFRE partner to expand parametric climate insurance
July 21, 2026
Blue Marble Microinsurance has partnered with MAPFRE to expand access to parametric insurance solutions in markets with significant protection gaps.
American Growth Insurance launches AI-enabled brokerage platform with private equity backing
July 21, 2026
American Growth Insurance (AGI) has launched an AI-enabled platform designed to help insurance brokerages accelerate growth and improve operational performance, supported by nearly $70 million in funding from Rockbridge Growth Equity and venture capital firm Atomic.
Liberty Mutual Re appoints Tom Spurgeon as Global Head of Cyber Reinsurance
July 21, 2026
Liberty Mutual Reinsurance Group (LM Re) has appointed Tom Spurgeon as Global Head of Cyber Reinsurance, reinforcing its focus on expanding its global cyber reinsurance business.
