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Aegon adds protection specialist to IFA stable

Aegon UK has continued its IFA acquisition drive by taking a 9.99 per cent

stake in Personal Touch Insurance for around £2m.

The Solihull-based protection specialist has 24 RIs and more than 10,500

agents distributing financial services, mortgages and general insurance

products to support the core business.

Personal Touch has grown rapidly since it started trading seven years ago.

Over the past four years, it has doubled its turnover every year to the

current level of £12m. The IFA is valued at around £20m.

Personal Touch strategic development director Mike Allison says: “We have

developed one of the most advanced IT portals in the UK for use by

intermediaries, giving us a clear advantage over many of our competitors.

“The investment by Aegon will help us to build on our success to date and,

most important, will give us the financial strength to continue our

development at a time when it is becoming such a vital issue in today&#39s

market.

“We see ourselves as being a long-term player in the UK financial services

market and this gives us a platform on which to build.”

Aegon group public affairs manager Scott White says: “Personal Touch is an

attractive proposition and in line with our strategy of acquiring

well-managed businesses. This company is particularly attractive because

protection has the potential for expansion and profitability. We are more

than happy to be a backer for Personal Touch.”

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