Aegon has completed the €295m sale of Unirobe Meeùs Groep (UMG) to Aon Groep Nederland.

The sale, first announced in August this year, is part of Aegon’s strategic objective to optimise its portfolio across its businesses.

The divestment is expected to raise Aegon’s Solvency II ratio by nearly 6%-points.

The company expects to a book gain of approximately EUR180m. As a consequence of this deal, Aegon’s underlying earnings before tax is expected to dip by approximately EUR20m going forward.

The takeover will boost Aon’s position as a global professional services company for risk, retirement and health solutions.

When deal was first announced, Aon Netherlands country manager Marc van Nuland said: “This acquisition will drive value for clients of both UMG and Aon as we combine the knowledge and experience of UMG with Aon’s teams in the Netherlands, as well as with our global network.”