"Improving returns of Aegon’s businesses continues to be one of our key priorities," said Aegon CFO Jan Nooitgedagt.
Aegon announces that it has successfully completed a capital management transaction that will make available approximately USD 650 million of additional regulatory capital to its US operations. The transaction, which has an initial size of USD 900 million, serves to realize the value of a portion of future profits associated with an existing book of traditional life business. The term of the transaction between Aegon and JPMorgan Chase Bank is ten years.
"Improving returns of Aegon’s businesses continues to be one of our key priorities," said Aegon CFO Jan Nooitgedagt. "This latest transaction, which is part of our capital preservation program, will further strengthen our overall capital position and enable us to manage our capital more effectively.”
Between the third quarter of 2008 and the second quarter of 2009, Aegon released EUR 3.3 billion of capital from its businesses and is committed to exploring additional capital preservation initiatives.
© Aegon 2020