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
Simply Business has launched a new business insurance app within ChatGPT
April 23, 2026
Simply Business has launched a new business insurance app within ChatGPT in the U.S., alongside a separate rollout of a UK version, marking a further step in its digital distribution strategy.
Clear Group expands Scottish footprint with Spence Insurance acquisition
April 22, 2026
Clear Group has expanded its presence in Scotland following the acquisition of Spence Insurance, as it continues to grow its regional brokerage platform.
SoundHound AI to acquire LivePerson in $250m deal to expand conversational AI platform
April 22, 2026
SoundHound AI has agreed to acquire LivePerson in a transaction valuing the business at approximately $250 million, bringing together voice AI and digital messaging capabilities into a unified conversational platform.
