Stonebridge International Insurance Ltd
Stonebridge International Insurance was formed in 1999 and is part of the Dutch multinational insurance group Aegon.
Aegon has a long history in the Netherlands, dating back to the mid-1800s. Recent mergers and acquisitions have included:
- the merger of the Dutch companies AGO and Ennia in 1983 to form Aegon;
- the acquisition of Scottish Equitable in the UK in 1983;
- the acquisition of the US company Providian in 1997,
- the acquisition of the UK’s Guardian Royal Exchange Assurance in 1999; and
- the formation of Stonebridge in 1999 to provide a range of health and accident insurance products.
The Aegon Group claims some 40 million customers worldwide, with some 27,500 employees and total assets in excess of €300 billion.
Stonebridge is effectively the group’s European trading arm, with headquarters in Maidenhead in the UK, but operations throughout the rest of Europe, including offices in France, Germany, Italy and Spain. The company is regulated and authorised by the Financial Conduct Authority and is a member of the Association of British Insurers.
Stonebridge specialises in accident insurance policies, in particular products it describes as follows:
- accident death plan;
- accident cash plan; and
- personal accident plan.
Depending on the particular insurer, landlord insurance is variously described as either household or business insurance.
Its description as a form of household insurance may be due to its similarity with standard home insurance in that a core element of protection is of the structure and fabric of the building in question and the contents of its owner. Nonetheless, there is a significant distinction between standard home insurance and landlord insurance, with the former typically quite inappropriate for the cover of let premises.
When landlord insurance is described as a form of business cover, this reflects the fact that buying to let is indeed a business. Not only is there a capital investment in the let premises, but also an ongoing expectation of, and reliance upon, business revenue generated by rents received. In the event of loss of rental income following an insured incident, landlord insurance may typically provide compensation up to a prescribed amount for a given maximum period of time.
Stonebridge landlord insurance
As already mentioned, Stonebridge is in the business of providing accident, health and unemployment insurance cover – it does not market any form of landlord insurance.