Reinsurance News
Aegon
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
Lard Friese proposed as Wynaendts successor as Aegon CEO
12th August 2019
The Supervisory Board of Aegon has announced its intention to propose the appointment of Lard Friese as Chief Executive Officer (CEO) to the Annual General Meeting (AGM) of Shareholders, succeeding Alex Wynaendts. Friese will rejoin the firm as CEO-designate effective March 1st, 2020 and will succeed Wynaendts at the AGM to ... Read the full article
Aegon to divest last block of U.S. life reinsurance business to SCOR
7th August 2018
Aegon has announced an agreement to divest the last substantial block of its life reinsurance business to SCOR Global Life, a division of French domiciled reinsurer SCOR. The latest transaction is consistent with Aegon's strategic objective to lower the volume of capital allocated to its run-off businesses. Under the agreement, Aegon's Transamerica ... Read the full article
SCOR to reinsure block of Aegon’s life reinsurance business
28th December 2017
Aegon has announced an agreement to divest a block of life reinsurance business to French reinsurer SCOR, and also revealed that it is to dissolve a related captive insurance firm. Under the agreement, Aegon's Transamerica life subsidiaries will reinsure $750 million of liabilities to SCOR, which covers roughly 50% of the ... Read the full article
Aon Netherlands completes acquisition of UMG from Aegon
1st November 2017
Aon Groep Nederland, the Netherlands subsidiary of global insurance and reinsurance broker Aon, has completed the acquisition of Unirobe Meeus Group (UMG) from Aegon, for €295 million (US$343 million). The transaction includes the whole of UMG and strengthens Aon's position in the Netherlands marketplace, improving its presence in the SME and ... Read the full article
Aon Netherlands to acquire UMG from Aegon for €295 million
8th August 2017
Netherlands-based subsidiary of insurance and reinsurance brokerage Aon, Aon Groep Nederland, has announced that it will acquire Unirobe Meeùs Groep (UMG) from Aegon for €295 million (US$348.4 million). The deal is expected to close in the fourth-quarter of this year, and remains subject to council advice and approval from Dutch regulators. The ... Read the full article
Aegon completes sale of two run-off businesses to Wilton Re
29th June 2017
Global insurance and financial services specialist Aegon has completed the sale of its two largest U.S. run-off insurance businesses to Wilton Re, the U.S. life reinsurance firm that specialises in the acquisition of in-force portfolios. In a transaction first announced back in May, Aegon has sold its payout annuity business ... Read the full article
Aegon selling its two largest US run-off businesses to Wilton Re
22nd May 2017
Global insurance and financial services specialist Aegon is selling its two largest U.S. run-off insurance businesses to Wilton Re, the U.S. life re/insurer that specialises in the acquisition of in-force portfolios. Aegon is selling its payout annuity business and Bank Owned / Corporate Owned Life Insurance business (BOLI/COLI), to Wilton Re, ... Read the full article
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