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Aegon to sell Dutch funeral insurance business

February 2, 2010

Aegon is to sell its funeral insurance business in the Netherlands to Dutch investment firm Egeria for EUR 212 million.

The sale is part of an ongoing review of Aegon’s businesses around the world which was launched in June 2008, and will bring greater focus to the company’s Dutch portfolio of products.

Management Board member Marco Keim, responsible for the Netherlands, said the sale would allow Aegon to focus on what its customers want in the key areas of life and non-life insurance,  pensions, savings and investments.

Aegon’s Dutch funeral insurance business is one of the largest in the Netherlands. In fact, Aegon’s roots can be traced back to the mid-nineteenth century when the company’s predecessors provided insurance to customers wishing to ensure a decent funeral for themselves and members of their family. In 2009, the business had approximately EUR 70 million in gross written premiums.

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