Standard Life buys Aegon UK for £2bn, becoming UK's largest retirement savings group

Standard Life PLC has agreed to acquire Aegon's UK arm for £2 billion, adding £160 billion in assets and 3.8 million customers. This deal will make Standard Life the UK's largest retirement savings group with £480 billion assets and 16 million customers. Funded by debt, cash, and shares, Aegon will hold a 15.3% stake in the combined company. The acquisition is expected to generate significant cost savings, capital synergies, and boost operating profit, shifting the business towards fee-based earnings. Completion is expected by the end of 2026, pending regulatory approval.