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Aegon to acquire BlackRock’s UK Defined Contribution platform and administration business

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Aegon to acquire approximately £12 billion (approx. €15 billion) of assets and 350,000 customers, creating a £30 billion (approx. €38 billion) platform-based workplace savings business BlackRock will deepen its relationship with Aegon providing its customers investment management solutions Paul Bucksey from BlackRock will be appointed Managing Director of the combined workplace business, which brings together the complementary capabilities of both propositions to offer Defined Contribution (DC) services to schemes of all sizes and types. ... Read More »

Aegon reaches agreement over Dutch harbor workers’ pension capital

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This agreement ends a dispute that began when the Optas pension fund was transformed into an insurance company, which was subsequently acquired by Aegon in 2007. Aegon and BPVH have agreed to jointly file a request with the Dutch court to remove the restriction on the capital of Optas. Upon the court granting this request, Aegon will make a payment of EUR 80 million to BPVH, as well as offering harbor workers more favorable pension conditions. In addition, over the coming years Aegon will contribute up to EUR 20 million to help mitigate the ... Read More »

Aegon intends to move to swap curve for solvency calculation in the Netherlands

budget-deficit

This implies that insurers can choose either the DNB swap curve or the ECB AAA curve, the latter being the curve Aegon used for the calculation of the IGD (Insurance Group Directive) solvency ratThis implies that insurers can choose either the DNB swap curve or the ECB AAA curve, the latter being the curve Aegon used for the calculation of the IGD (Insurance Group Directive) solvency ratio for Aegon the Netherlands. On July 12, 2013, Fitch downgraded France from AAA to AA+, resulting in the removal of France from the ECB AAA curve and an adv... Read More »

Aegon and Banco Santander complete exclusive 25-year partnership in Spain

insure

Consolidates Aegon's strong position in Spain Supports Aegon's broader strategy to become a leader in its chosen markets Aegon has completed an exclusive 25-year strategic partnership with Banco Santander, Spain's largest financial group, first announced last December. Under the terms of the agreement, Aegon has acquired a 51% stake in both a life insurance company as well as in a non-life insurance company for a consideration of EUR 220 million. The joint ventures will distribute life and general insurance products through Banco Santan... Read More »

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