Aegon has completed its acquisition of Rotterdam-based OPTAS N.V., following approval from the regulator DNB and the Dutch competition authority NMa.
Aegon announced an initial agreement to acquire OPTAS on March 15, 2007.
OPTAS, a life insurance company specializing in employee benefit products and services, will strengthen Aegon's position in the group pension market in the Netherlands. OPTAS' extensive business relationships with companies and employees in the ports of Rotterdam and Amsterdam will allow Aegon to broaden its overall client base. Combining OPTAS' particular strengths and expertise with Aegon's existing pension operations will lead to the creation of a highly effective and efficient platform to serve the group pension market in the Netherlands. The transaction will have a slightly positive effect on Aegon N.V.'s earnings per share in 2007.
OPTAS N.V., the successor of Stichting Pensioenfonds voor de Vervoer- en Havenbedrijven (a pension fund for companies in the transport and port industries), will become a subsidiary of Aegon The Netherlands. At the end of 2006, OPTAS had over 60,000 policyholders and total assets of EUR 4.5 billion. Last year, the company reported total gross written premiums of EUR 86 million.