Virgin Money, a worldwide financial services brand, has entered into an agreement with UK’s personal, commercial and protection insurance solutions provider Ageas UK (Ageas) to jointly work towards creating a range of home and motor insurance products for the UK market.

By the virtue of the agreement, Ageas will provide Virgin Money, which serves 2.8 million retail banking customers, sales, servicing, administration and claims management support.

Ageas will solely underwrite the home insurance products while the motor insurance will be underwritten by a selected panel of insurers managed by the insurance firm.

Ageas UK CEO Andy Watson said: “We have set out a clear strategy to grow and simplify our Retail business of which Partnerships is a very important part. This new partnership underlines both the hard work of the team and the confidence of a strong brand like Virgin Money in our ability to deliver for them and their customers.”