Aegon to combine its Dutch business with a.s.r. – Information on the combination

Aegon to combine its Dutch business with a.s.r.Information on the combination

This page features the latest publicly available information and documents relating to the proposed combination of Aegon the Netherlands and a.s.r.

Introduction 

Aegon announced on October 27, 2022 that it had reached an agreement with a.s.r. to combine its Dutch pension, life and non-life insurance, banking, and mortgage origination activities with a.s.r., a Dutch peer. The combination will create a leading Dutch insurance company.

This step enables Aegon to accelerate its strategy and represents a major step in its ambition to become a leader in its chosen markets.

Aegon will receive EUR 2.5 billion in gross cash proceeds - subject to a downward adjustment of approximately EUR 0.3 billion in relation to a.s.r.'s share issuance to finance the Transaction - and a 29.99% strategic stake in a.s.r., with associated governance rights. Aegon's Dutch asset management activities will remain part of Aegon's global asset manager. Aegon will enter into a long-term asset management agreement with a.s.r. to manage parts of the combination's general account investments, the investments of the Premium Pension Institution (PPI) offering of Aegon Cappital, and a.s.r.'s mortgage funds.

Important dates

Date Event
October 27, 2022 Aegon announces proposal to combine its Dutch operations with a.s.r. 
October 28, 2022 Aegon takes note of equity issuance by a.s.r.
January 17, 2023 Extraordinary General Meeting of Shareholders