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Phoenix Group Holdings PLC, Royal London and Scottish Widows are among the potential bidders for Aegon Ltd’s UK insurance business, which is valued at £2 billion, the Financial Times reported on Thursday. In addition to the potential strategic buyers, private equity investors including CVC Capital Partners PLC have shown interest, the newspaper said, citing ‘people familiar with the matter’. The FT noted that Goldman Sachs Group Inc is running the auction process. Back in December, Aegon, currently based at Schiphol, outside of Amsterdam, said it will relocate its headquarters to the US and adopt the Transamerica name within the next two years, as part of a broad restructuring. The Dutch insurer said the review of the UK arm could lead to a ‘potential divestment’. At the time, the Times newspaper reported that potential bidders were Chesnara PLC, Phoenix Group Holdings PLC, Aviva PLC, Royal London, M&G PLC, Lloyds Banking Group PLC, which is the owner of Scottish Widows, and ‘less likely’ Legal & General Group PLC. The Times said Aegon’s UK business, which offers workplace pensions, could fetch £1.5 billion to £3 billion and could be sold as a whole or broken up. The FT on Thursday said Aegon is planning to conclude its review of the UK business in the first half of this year. It said Goldman Sachs, Scottish Widows, Phoenix Group, Royal London, CVC and Aegon all declined to comment. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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