The transaction allows Aegon Czech Republic to concentrate on its life insurance business.
"We will fully focus our efforts on meeting the needs of our existing and future customers in life insurance," said Jiří Schneller, CEO of Aegon Czech Republic. "Our ambition is to invest and grow to become a leader in this market".
There will be no impact on the pension plans of the current customers of Aegon's Czech pension business. The transaction is pending regulatory approval.
