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Aegon to sell its business in Ireland

Staff Writer |
Aegon has agreed to sell Aegon Ireland to AGER Bermuda Holding, the holding company of the European operations of Athene Holding.

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This transaction will further optimize Aegon's portfolio of businesses and increase its financial flexibility.

The proceeds from the divestment of Aegon Ireland, a provider of unit linked guarantee and offshore bond products predominantly in the United Kingdom, will amount to 81% of the Own Funds at the time of closing.

Solvency II Own Funds of Aegon Ireland were approximately GBP 200 million (EUR 220 million) as of June 30, 2017.

Aegon's group solvency ratio is estimated to improve by approximately 2%-points as a result of the transaction.

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