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Aegon £30m tennis deal ahead of RDR changes

Aegon says its new sponsorship deal with the Lawn Tennis Association is designed to build the brand in anticipation of the expected retail distribution review changes.

The firm has signed a five-year deal, thought to be worth £25m-£30m, which will run from this summer through to 2013.

As lead sponsor, Aegon will be involved in all aspects of British tennis, from providing rackets to schools and restoring local courts to holding the naming rights to international events, including the Aegon Championships at The Queen’s Club in London, formerly sponsored by Stella Artois.

Marketing director Steve Clode says the partnership will allow Aegon to boost recognition among consumers at a time when the distribution landscape is changingHe says: “This deal is a significant step forward in our strat-egy to develop the Aegon brand in the UK market. We particularly want to boost recognition among IFA customers. We recognise that the distribution landscape is changing and that now is a good time for us to start turning up the volume.

“There is a lot of uncertainty at the moment and to be there as a household name doing something beneficial for young kids as well as being associated with major international tournaments, will be really positive.

“IFAs are our route to market but as the distribution market is changing with the RDR, now is a good time to be building our brand among consumers.”

Aegon is one of the few providers still operating in the initial commission market for corporate pensions.

Money Marketing recently revealed that the firm was still paying initial commission of up to 25 per cent despite providers such as Axa pulling out due poor profits on the business.

Last year, Aegon signed a seven-year sponsorship deal with Dutch football team Ajax worth around £8m-£10m a year, depending on performance.

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