Royal London has completed the Part VII transfer of the Aegon UK individual protection book following formal approval by the courts.
The acquisition, first announced in April last year, sees the life insurance, critical illness and income protection policies of nearly 400,000 customers transferred to Royal London.
Carrie Johnson, protection director at Royal London, said: “The acquisition helps bolster our overall position in the protection market, allowing us to strengthen our support for advisers and customers at a time when protection solutions are becoming an increasingly key consideration in advice conversations.
“Royal London now supports over 1.4 million advised customers in the UK by protecting them and their families against life shocks that could otherwise cause financial challenges.
“We look forward to welcoming our new protection customers and their advisers. Our reputation for outstanding customer service means they can be reassured they are in safe hands.”