Ageas partners with Victor to grow commercial portfolio

Managing general underwriter Victor Insurance UK has signed a multi-year agreement with insurance group Ageas to support the writing of £60 million GWP over the next five years.

Under the agreement, Ageas will provide capacity across several Victor Insurance product lines that support brokers and their clients across the UK, including those within agriculture and third sector. The two businesses already work together in support of Victor’s contractors’ insurance products.

Mark Auchterlonie, director of distribution at Ageas UK, said: “We’ve been telling the market that we’re open to new opportunities to grow our commercial portfolio and this agreement is further evidence of that. Victor’s underwriting capabilities and forward-thinking business model plays to our specialist expertise, while further broadening our continued commitment to the commercial market.”

John Stephenson, country manager for Victor Insurance UK, said: “We have had a longstanding relationship with Ageas, an insurer that has a keen understanding of Victor’s business model. This new arrangement provides strong financial security and long term stability to our brokers in a period of market uncertainty, as we look to meet Victor’s ambitious growth plans."