Dutch insurer Aegon (AEG +2.4%) will sell its U.S.-based Transamerica Reinsurance business to...

|By:, SA News Editor

Dutch insurer Aegon (AEG +2.4%) will sell its U.S.-based Transamerica Reinsurance business to French reinsurer Scor for $900M - a fraction of what Aegon paid for Transamerica 12 years ago - as part of its plan to repay state aid. Analysts say the sale proceeds disappoint but are pleased that Aegon is ready to free itself from the government lifeline. (PR)