Reinsurance News
Aegon
Aegon sells stake in Spanish joint insurance venture
25th May 2022
Aegon has announced plans to sell its 50% stake in the Spanish insurance joint venture with Liberbank to Unicaja Banco, following a change of control in Liberbank after its merger with Unicaja Banco in 2021. The gross proceeds of the transaction amount to €177 million, representing 22 times 2021 operating result ... Read the full article
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
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