On 2 June 2009, AEGON UK announced its immediate withdrawal from the group risk market and closed our Employee Benefits division to new business.
Why did we do this?
In June 2008, AEGON nv announced three strategic priorities: capital, costs and contingency. To make the best use of our capital, it was decided to focus on areas of higher growth and return prospects.
As a result, we undertook a strategic review of our Employee Benefits business unit, which led to us closing to new business and winding down the in-force book of business. The overall wind down of this business will take place over the next 18-24 months.
We’re committed to making sure that our customers and their employees are treated fairly throughout this process and we’re working with your advisers in light of the changes to our processes and terms
Our claims process is still the same for both new and existing claims. All clients will continue to benefit from the expertise of our internal claims specialists and, where appropriate, our independent specialists - all working to make sure your employees receive the most appropriate care.
RED ARC will still be available from point of claim on both our Group Life and Group Critical Illness products and, where appropriate, on Group Income Protection.
Thank you for your support while we’ve been active in the group risk market.