Aegon receives license for life insurance activities in Slovakia

The Dutch based Aegon Group has received a license from the relevant regulatory authorities to start life insurance activities in Slovakia.

Aegon has decided to enter the life insurance market of Slovakia in the form of a greenfield operation and intends to play a significant role in developing this market through a wide range of products and services.

Jana Gruntová has been appointed head of the branch office, Peter Brudnák has been appointed general manager and Zoltán Sípos as sales manager.

"This is an important step in our Central European strategy and we will enthusiastically proceed with our preparations", says Don Shepard, chairman and CEO of Aegon's Executive Board. "We will start up our activities in Slovakia by using the relevant expertise available within our Group. The Slovakian insurance market has started to develop and in the long run there will be interesting opportunities for expansion in life insurance and pension products."

Aegon views its participation in Slovakia as a long-term commitment and is dedicated to developing business in life insurance systems. Aegon plans to launch its operations in the autumn of 2003, when further information will be given on the operation, as well as on products and services.