Allianz to buy the commercial P&C insurance business from Aegon

Property insurance News commercial P&C insurance

The insurer will be purchasing the Netherlands market property and casualty portfolio from the company. It has now been announced that Allianz has agreed to buy the commercial P&C insurance business from the Netherlands market that had been owned by Aegon. As of yet, the details involved in the creation and closure of this transaction have not yet been disclosed. At the moment, the P&C insurance market share held by Allianz in the Netherlands is 4.4 percent. This transaction is expected to bring that figure up to a solid 5…

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Cinven buys U.K. Guardian life and pension from Aegeon

Cinven Ltd. has announced that it has purchased the life and pension unit of U.K. Guardian from the Dutch insurance company which owns Scottish Equitable, Aegon NV, for $449 million, in the effort to reduce its expenses within the United Kingdom. According to Aegon, which is based in the Hague, by the end of June 2011, the U.K. Guardian unit had recorded a value of approximately $445 million. Its unit for asset management will still be responsible for Guardian’s approximately $12 billion in assets on Cinven’s behalf. By 2015, Aegon’s…

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Asian Operations to be Re-Organized, says Aegon

Aegon, a Dutch insurance company, is preparing to re-organize its company’s Asian operations. Since experiencing losses in Asia, they want to address their business in both Asia and Hong Kong to turn losses into growth. These are changes that have been on their horizon for some time, but are now ready to help move their Asia market into the spotlight. To begin the changes for 2011, Aegon has created a CEO position for Asia. Douglas Henck, the newly-hired CEO of Aegon Asia, plans to operate Asian insurance businesses as if…

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