Ageas will support Virgin with sales, servicing, administration and claims management support, while it will also underwrite home insurance products.
Darrell Evans, director, banking, insurance and investments, Virgin Money, said: “Our products will be straight forward, transparently priced and will focus on helping our customers when they need it most.
“I am looking forward to working closely with Ageas for the benefit of our customers.”
Ant Middle, managing director, partnerships at Ageas, added: “I’m delighted that we are building a long-term strategic relationship with one of the UK’s most admired brands.
“Virgin Money is a progressive and customer focused business and our combined values and expertise are entirely complementary.
“We are excited by this new opportunity particularly as it underlines Ageas’s ambition to grow our partnerships business. We can’t wait to get started.”