Aegon to combine Dutch operations with a.s.r.

Written by Adam Cadle

27/10/2022

Aegon has reached an agreement with a.s.r. to combine its Dutch pension, life and non-life insurance, banking and mortgage origination activities with a.s.r.

This step enables Aegon to accelerate its strategy and represents a major step in its ambition to become a leader in its chosen markets. It will receive €2.5bn in gross cash proceeds, and a 29.99% strategic stake in a.s.r., with associated governance rights.

Aegon’s Dutch asset management activities will remain part of Aegon’s global asset manager.

Jos Baeten, CEO of a.s.r., said: “I am pleased to announce today that a.s.r. and Aegon the Netherlands, two renowned Dutch companies, deeply rooted in Dutch society, will create a leader in Dutch insurance. Together we will form a sustainable, leading insurer and strengthen our market position as the number two insurer in the market. Given the joined strength of both companies, the company will provide a good home for all Aegon the Netherlands employees, customers, and relations.

“As employees of a.s.r., we will work with the new colleagues on the future of this combination. The starting point will be, one company, one culture, by leveraging the best of both organisations. We look forward to welcoming all employees, customers, and relations of Aegon the Netherlands in the near future.”

Related Articles