Ageas partners with Co-op to offer personal motor insurance

The move to add Ageas to the small panel of insurers recognises Ageas’s commitment to the personal lines market, alongside its position as one of the UK’s largest motor insurers. The deal is expected to deliver £40m in GWP over five years.

Markerstudy Retail completed the purchase of the Co-op Insurance underwriting business in 2020, beginning a 13-year partnership to provide home and motor insurance products under the Co-op brand.

This invitation to join the panel reflects the market leading experience in motor insurance products that Ageas has demonstrated over the last decade, while working with Markerstudy Retail.

“We were excited to be invited to join the panel by Markerstudy Retail to offer even more choice to Co-op customers,” said Russell White, Director of Distribution at Ageas UK.

“This opportunity also recognises our strong heritage, market-leading experience and commitment to our heartland of electronically traded personal lines insurance.”

Charles Offord, Managing Director of Co-op Insurance said, “We’re pleased to be able to now offer our members and customers even more choice.

“Ageas shares our values and is a good match for our business and our customers. We were therefore delighted when they agreed to join our small, select panel of insurers.”