View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
August 14, 2017

Aon to snap up Aegon’s Dutch financial advisory business for €295m

Aon Groep Nederland, a subsidiary of Aon, has agreed to acquire Unirobe Meeùs Groep (UMG), an independent financial advisory group, from Aegon for €295m.

Aon believes that the proposed takeover, if materialises, will boost its position as a global professional services company for risk, retirement and health solutions.

Commenting on the agreement, 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.”

Aegon said that the disposal of UMG is in line with its strategic goal to streamline its portfolio across its businesses.

For Aegon, the transaction is expected to result in an increase of Solvency II capital of nearly €225m, which will be retained in Aegon the Netherlands. This will enhance the Solvency II ratio of Aegon the Netherlands by an estimated 6%-point.

Aegon CEO Alex Wynaendts said: “This transaction should be seen in the context of the evolving insurance landscape in the Netherlands and our strategy to optimize our portfolio.

“Through this divestment, we increase our financial flexibility and it allows us to focus on those businesses that are core to our strategy.”

The transaction is expected to be completed during the fourth quarter of the year, subject to works council advice and approvals by the Dutch regulators.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International