Reinsurance News

Aegon

VIG acquires Aegon’s Hungary business for €620mn

23rd March 2022

Vienna Insurance Group (VIG) has acquired the business of the Dutch insurer Aegon in Hungary for EUR 620 million, after receiving the approval of the local Hungarian authorities. This completion is an important step towards the full closing of the sale of Aegon’s insurance, pension, and asset management businesses in Central ... Read the full article

VIG and Hungary agree to cooperate on Aegon/Union

23rd December 2021

Vienna Insurance Group (VIG) has reached an agreement with the Hungarian government on the principles of a cooperation and the further course of action regarding insurers Aegon and Union Vienna Insurance Group Biztosító Zrt. Back in September, VIG's proposed acquisition of Aegon’s businesses in Central and Eastern Europe was blocked ... Read the full article

Aegon enters longevity reinsurance arrangement with RGA

15th December 2021

Life Insurer and asset manager Aegon has reinsured another slice of its longevity exposure in the Netherlands with Reinsurance Group of America (RGA), as the company looks to improve the risk profile of its Dutch Life business and release capital at attractive terms. The new reinsurance agreement offers protection against the ... Read the full article

VIG’s Aegon acquisition blocked in Hungary

21st September 2021

Vienna Insurance Group (VIG) has hit a roadblock in its pending acquisition of Aegon’s businesses in Central and Eastern Europe, after a decision by Hungarian authorities to block the deal was upheld. Last year, Aegon reached an agreement to sell its insurance, pension, and asset management operations in Hungary, Poland, ... Read the full article

European Commission clears VIG Aegon acquisition

13th August 2021

The European Commission has given clearance for Vienna Insurance Group AG Wiener Versicherung Gruppe's (VIG) acquisition of Aegon’s businesses in Central and Eastern Europe. Last year, Aegon, a provider of life insurance, pensions and asset management, reached an agreement to sell its Central and Eastern European operations to VIG for ... Read the full article

Aegon CTO Mark Bloom to step down in June

20th April 2021

Life Insurer and asset manager Aegon has announced that its Global Chief Technology Officer Mark Bloom is to depart the company on June 1 in pursuit of other opportunities. Bloom will have served in the role for over five years, leading Aegon's technology and innovation activities. He arrived at Aegon in 2016 as ... Read the full article

Aegon business sale blocked in Hungary

7th April 2021

Hungarian regulators have refused to give approval to the previously announced sale of Aegon’s Central and Eastern European operations to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG). Under the €830 million deal, VIG had agreed to acquire Aegon’s insurance, pension, and asset management business in Hungary, Poland, Romania, and ... Read the full article

Aegon hires Will Fuller as President and CEO, Transamerica

11th March 2021

Aegon, a provider of life insurance, pensions and asset management, has appointed Will Fuller as President and Chief Executive Officer (CEO) of Transamerica and as a member of the Management Board. Fuller, formerly Executive Vice President of Lincoln Group, has just under 30 years experience in insurance, annuities, retirement plans and ... Read the full article

VIG to acquire Aegon’s Central and Eastern European operations

30th November 2020

Aegon, a provider of life insurance, pensions and asset management, has reached an agreement to sell its Central and Eastern European operations to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) for €830 million. The net proceeds represent a multiple of 2.6 times the book value on June 30th, 2020, and ... Read the full article

Aegon reportedly looking at sale of Eastern European business

27th October 2020

Aegon, a provider of life insurance, pensions and asset management, is considering a sale of its Eastern European business, according to reports from Reuters. Sources say the company is working with JP Morgan on the process and has already entered talks with potential buyers. The reasoning behind a sale would be to ... Read the full article

Aegon to offload Stonebridge for £60mn

9th October 2020

Aegon, a provider of life insurance, pensions and asset management, has announced the sale of Stonebridge, a UK-based provider of accident insurance products, for £60 million. The acquirer is London-headquartered Global Premium Holdings group, a subsidiary of Embignell group that provides a range of accident and sickness insurance policies. Stonebridge is a direct-to-consumer ... Read the full article

Aegon earnings decline 31% to €700 million

13th August 2020

Aegon, a provider of life insurance, pensions and asset management, has reported a 31% decrease in underlying earnings over the first half of 2020, caused by adverse mortality and impacts from lower interest rates in the US. Underlying earnings were reduced to €700 million, from €1.01 billion for the same period ... Read the full article

Aegon adds Duncan Russell as Chief Transformation Officer

24th June 2020

Aegon, a provider of life insurance, pensions and asset management, has appointed Duncan Russell in the newly established role of Chief Transformation Officer. Effective September 1, Russell will report to CEO Lard Friese and will become a member of Aegon’s Management Board. He will work closely with the Executive Board in setting ... Read the full article

Fitch revises Aegon outlook to negative off COVID-19

15th May 2020

Fitch Ratings has revised its outlook for Aegon to negative from stable following disruption to economic activity and financial markets from the coronavirus pandemic. A set of rating assumptions were used by Fitch to develop pro-forma financial metrics for Aegon that were compared with both rating guidelines defined in its criteria, ... Read the full article

Aegon sees no material adverse impacts on claims ratios from COVID-19

19th March 2020

Aegon, a provider of life insurance, pensions and asset management, has said that at this point, it has observed no material adverse impacts on claims ratios as a result of the COVID-19 outbreak. The announcement comes as part of an update on Aegon's capital position in light of the impact of ... Read the full article