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Active-Investors: Blog Exposure - Aegon Divests Chunk of Life Reinsurance Business to France's SCOR; Dissolves Related Captive Insurance Company

LONDON, UK / ACCESSWIRE / January 02, 2018 / Active-Investors.com has just released a free research report on AEGON N.V. (NYSE: AEG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AEG as the Company's latest news hit the wire. On December 28, 2017, the Company disclosed that it has signed an agreement to sell off a chunk of its life reinsurance business to SCOR SE, a France based global reinsurance Company. The current transaction is in-line with the Company's strategy of focusing on core business and the reduction of capital allocation to non-core businesses. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, AEGON N.V. most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=AEG

Details of the Divestiture

As per the current agreement, Aegon's Transamerica life subsidiaries will reinsure approximately $750 million of liabilities to SCOR. This transaction represents 50% of Transamerica's life reinsurance business that it had held back after divesting a major part of the said business to SCOR in 2011. Aegon had sold a major part its Transamerica Reinsurance business to SCOR in April 2011 in a post-tax deal valued $1.4 billion. The deal is expected to result in a one-time benefit of approximately $75 million to Transamerica's capital position and have a marginally positive impact on the recurring capital generation.

This transaction will not affect the future underlying earnings of the company as the earnings from the currently divested business are part of its run-off businesses and have not been included in underlying earnings before tax. The Company expects that this transaction will result in a pre-tax IFRS (International Financial Reporting Standards) loss of €105 million (approximately $125 million). The Company plans to include this transaction and its impact in its Q4 2017 results and the loss will be reflected under the heading of Other charges.

Additionally, the Company has also announced that it is dissolving the related captive insurance Company that was used to finance redundant reserves, also known as XXX term life insurance reserves. The dissolution of this Company will result in the redemption of approximately $475 million, which was used as operational leverage for the said life insurance reserves.

About Transamerica

Transamerica, through its subsidiaries, is in the business of life insurance, financial services, and real estate services. Transamerica was acquired by Aegon in July 1999.

Transamerica Reinsurance provides reinsurance products and services to life insurance companies and annuity companies in the US, Asia, Latin America, and Europe. After Aegon's divestment of a major chunk of Transamerica Reinsurance's business in 2011, it became a part of SCOR Global Life Americas Reinsurance Company.

About AEGON N.V

The Hague, Netherlands-based Aegon is one of the world's leading financial services organizations and one of the top-10 largest insurance Companies in the world. The Company provides life insurance, pensions, and asset management services and solutions. It has a rich history of over 170 years going back to 1844. In America Aegon's operations are under the Transamerica brand. The Company has a global presence with operations spread across 20 countries in Europe, Asia, and the Americas and is supported by a team of 29,000 employees. The Company has over 26 million customers and as of September 2017, manages over €816 billion of the Company's plus customers' investments.

About SCOR SE

Paris, France-based SCOR is a global reinsurance Company and the 4th largest reinsurer in the world. It provides a comprehensive range of solutions and services to insurance Companies to control and manage risk. SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk - in Life & Health insurance (longevity, mortality, LTC, etc.) as well as in P&C insurance (natural catastrophes, agriculture, industry, transport, engineering, etc.). The Company has operations in over 160 countries and has offices in over 38 major locations across the globe. For FY16, the Company's gross written premiums were €13.8 billion, and its net income was €603 million.

Stock Performance Snapshot

December 29, 2018 - At Friday's closing bell, AEGON's stock ended the trading session flat at $6.30.

Volume traded for the day: 690.03 thousand shares.

Stock performance in the last month - up 1.12%; previous three-month period - up 8.81%; past twelve-month period - up 15.17%; and year-to-date - up 13.92%

After last Friday's close, AEGON's market cap was at $13.31 billion.

Price to Earnings (P/E) ratio was at 6.33.

The stock has a dividend yield of 4.92%.

The stock is part of the Financial sector, categorized under the Life Insurance industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

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SOURCE: Active-Investors

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