Sep. 25, 2015, 2:25 PM
- Insurance firm Aegon (AEG +3.9%) is higher after agreeing to acquire Mercer HR Services' U.S. defined contribution administration book of business in a deal that adds $71B to its assets under administration, which will total $216B.
- The acquisition, through an affiliate of AEG's Transamerica unit, will increase the number of retirement plan participants serviced by the unit by 917K to ~5M.
- Financial terms of the deal are not disclosed.
Apr. 26, 2011, 9:47 AM
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)| Apr. 26, 2011, 9:47 AM