Aegon: expands Spanish partnership with Santander

(CercleFinance.com) - Aegon has announced signing an agreement with Santander to extend their partnership in Spain to term life insurance and some non-life insurance lines, following Santander's acquisition of the “Popular” franchise in 2017.


The Dutch insurance company highlights the commercial success of this partnership with the Spanish bank, as evidenced by 12% average annual growth in gross written premiums over the period 2014-17.

Under the terms of the new agreement, Aegon has agreed a down payment of 215 million euros, to which 75 million euros could be added after a period of five years, depending on the performance of the partnership.


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