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Aegon strikes £180m distribution deal with Santander

by Daniel Grote on Dec 20, 2012 at 09:39

Aegon has agreed a €220 million (£178 million) deal with Santander that will see the Spanish bank distribute the life company’s protection and general insurance products through its branches.

Aegon said the deal would give it access to around 12 million Spanish customers in 4,600 branches. It has taken a 51% stake in a joint venture company with Santander.

Aegon chief executive Alex Wynaendts (pictured) said: ‘Aegon has a firm commitment to Spain and a clear track record of providing quality products and services through the bank channel. With Santnader we look forward to reaching and serving an even greater number of potential customers seeking long-term financial security in these uncertain times.’

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2 comments so far. Why not have your say?

Let`s hope it works out better than Aviva`s recent Iberian foray.

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Ian Lees

Dec 21, 2012 at 12:45

What a great deal for Aegon/Scottish Equitable - and earning only slightly more than when Scottish Equitable Trustees calculates Scottish Widows Cash Equivalent - from my Final Salary Pension Scheme at Scottish Widows - and Scottish Equitable Trusttes assisted the thieving Trustees at Scottish Widows - to steal part of my pension fund - as part of the malicious pension trustees strategies applied by all insurance companies - under the PIA / FSA as regulatory authorities - in " treating customers abysmally . As you can see there is no " F " in treating customers abysmally ?

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