The insurer sold its Central European subsidiaries for 830 million euros.

Aegon sells its Hungarian, Romanian, Polish and Turkish subsidiaries to Vienna Insurance Group AG Wiener Versicherung Gruppé (VIG). The agreement was signed on Sunday with a purchase amount of 830 million euros.

This transaction simplifies our corporate structure and strengthens our balance sheet

He quotes Lard Friese, CEO of Aegon, saying briefcase. This puts Hungary’s third largest insurer, the largest home insurance portfolio, the eighth fund manager and the third largest voluntary pension fund into new hands, as well as the largest change of ownership in the insurance sector. Hungarian in the last 12 years.

With the agreement, VIG will become the largest player in the Hungarian market. In addition, VIG is expanding its activities in the region. Across all four countries, premium income in 2019 was € 600 million and net income was approximately € 50 million.

The condition of the transaction is to obtain the necessary licenses for supervision and competition law. It is expected to close in the second half of 2021.



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