St Andrew’s Insurance Group has confirmed the completion of its acquisition of Aegon Insights Australia Pty Ltd, an insurance administration services provider previously owned by the global financial services company Aegon Group.
The transaction, which was first announced in early October 2025, reached completion on Oct. 31 after receiving approval from the Australian Prudential Regulation Authority (APRA).
Aegon Insights Australia manages administrative services for a portfolio of roughly 22,000 life insurance policies on behalf of several prominent insurers.
The deal also includes the acquisition of the Australian reinsurance portfolio of Transamerica Life Insurance Company.
St Andrew’s has indicated that it will integrate these operations into its existing business, with an emphasis on maintaining service continuity for policyholders and partners.
Founded in 1998, St Andrew’s Insurance Group has provided insurance coverage to more than 600,000 Australians over its history.
The company has previously been under the ownership of major banks such as Bankwest/CBA and Bank of Queensland.
In recent years, St Andrew’s has pursued a strategy focused on expansion and operational integration.
This has included its acquisition by a consortium of Australian private investors in 2021 and the purchase of Hallmark Insurance from Latitude Financial Services in 2023.
With the addition of Aegon’s operations, St Andrew’s aims to strengthen its administrative capacity and improve operational efficiency.
Matthew Way, CEO of St Andrew’s, said the completion of the acquisition marks an important step for the group.
“By integrating Aegon’s proven capabilities, we’re strengthening the value we offer to customers. Aegon is a high-quality business that shares our commitment to excellence and aligns with our values and strategic vision. We look forward to integrating the Aegon business and its people, and continue to deliver enhanced value through collaboration for its customers and corporate partners,” he said.
In 2024, APRA registered St Andrew’s Australia Services Pty Ltd as a non-operating holding company under the Life Insurance Act 1995 and the Insurance Act 1973.
This registration allows St Andrew’s to oversee both life and general insurance businesses within the regulatory framework.
The group also completed an internal reorganisation in 2024, with the Federal Court of Australia approving the transfer of St Andrew’s insurance portfolios to Hallmark Insurance.
St Andrew’s has continued to broaden its product offerings, including a recent partnership with Neilson Financial Services to launch new life insurance products in Australia.
These efforts are part of the group’s strategy to address underinsurance and expand its suite of insurance solutions for the Australian market.
The acquisition of Aegon Insights Australia is the latest in a series of moves by St Andrew’s to grow its presence and capabilities in the sector.
The company remains focused on integrating new operations, maintaining regulatory compliance, and developing products to meet evolving market needs.
