AEGON to out source protection administration

In exclusive talks with Serco

AEGON is planning to out source the administration of its protection business later this year.

The provider – which currently does its administration in house – is in exclusive talks to sign a 10-year deal with third party service provider Serco.

The deal is due to start in Q4 2012 and, if it goes ahead, will see 330 AEGON employees transfer across to Serco.

However, AEGON says no redundancies are expected to arise as a result of the arrangement and that it will be business as usual for customers.

Adrian Grace, chief executive officer of AEGON UK, said: “We are committed to providing excellent levels of customer service with cost-efficient operations and partnering with Serco will provide this for us.”

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