Aegon announced today that it has successfully completed the divestment of Stonebridge, a UK-based provider of accident insurance products to Global Premium Holdings group, part of Embignell group.
As announced on October 9, 2020, the divestment will further simplify Aegon's business profile. This is in line with Aegon's strategy to actively manage its portfolio of businesses, allocating capital to those businesses with a greater potential for an attractive return on capital, and where Aegon is well positioned for growth.
Under the terms of the agreement, Aegon sold Stonebridge for a consideration equivalent to approximately GBP 60 million, consisting of the purchase price and dividends related to the transaction. This excludes a contingent consideration of up to GBP 10 million. The transaction will not have a material impact on Aegon's capital position and results.