Aegon to Sell Majority of U.S. Runoff Businesses to Wilton Re
May 22 2017 - 2:28AM
Dow Jones News
By Razak Musah Baba
Insurer Aegon NV (AGN.AE) has agreed to sell its two largest
U.S. runoff businesses, the payout annuity business and the bank
owned/corporate owned life insurance business to its peer, Wilton
Re.
The transaction is consistent with the company's stated
strategic objective to reduce the amount of capital allocated to
its runoff businesses, it said.
Under the terms of the agreement, Aegon's Transamerica life
subsidiaries will reinsure $14 billion of liabilities to affiliates
of Wilton Re U.S. Holding Inc.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
May 22, 2017 02:13 ET (06:13 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Aegon (NYSE:AEG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Aegon (NYSE:AEG)
Historical Stock Chart
From Sep 2023 to Sep 2024