St Andrews’s Insurance Group has completed its acquisition of insurance administration services provider Aegon Insights Australia.

The purchase from Aegon Group – a global financial services company based in the Netherlands –closed on Friday after approval from the Australian Prudential Regulation Authority.

Aegon provides administration services for about 22,000 life insurance policies in Australia, on behalf of several major insurers.

St Andrew’s CEO Matthew Way said: “By integrating Aegon’s proven capabilities, we’re strengthening the value we offer to customers.

“We look forward to integrating the Aegon business and its people.”