THE HAGUE, a Netherlands, August 8, 2017 /PRNewswire/ —
Aegon has concluded to sell Unirobe MeeÃ¹s Groep (UMG), an eccentric financial advisory group, to Aon Groep Nederland for EUR 295 million. The transaction is unchanging with Aegon’s vital design to optimize a portfolio opposite a businesses.Â
The transaction is approaching to outcome in an boost of Solvency II collateral of approximately EURÂ 225 million, that will be defended in Aegon a Netherlands. This will urge a Solvency II ratio of Aegon a Netherlands by an estimated 6%-points.
“I am gay that we have found a new clever owners with an ubiquitous footprint for UMG’s business and staff,” pronounced Alex Wynaendts, CEO of Aegon. “This transaction should be seen in a context of a elaborating word landscape in the Netherlands and a devise to optimize a portfolio. Through this divestment, we boost a financial coherence and it allows us to concentration on those businesses that are core to a strategy. we would like to appreciate UMG’s employees and supervision for their many contributions.”
The divestment will lead to a book benefit of approximately EUR 180 million, that will be reported in Other income during a time of closing. As a outcome of this transaction, annual underlying gain before taxation will diminution by approximately EUR 20 million going forward.
The transaction is theme to works legislature recommendation and normal regulatory approvals and is approaching to tighten in a fourth entertain of 2017.
About UMGÂ Â
UMG provides eccentric recommendation and word products to approximately 580,000 sell and 75,000 indiscriminate business and is a top-3 eccentric financial advisory organisation in the Netherlands. Aegon and UMG did not have prolongation agreements: eccentric recommendation has always been a series one priority.
About AegonÂ Â
Aegon’s roots go behind some-more than 170 years – to a initial half of a nineteenth century. Since then, Aegon has grown into an ubiquitous company, with businesses in some-more than 20 countries in a Americas, Europe and Asia. Today, Aegon is one of a world’s heading financial services organizations, providing life insurance, pensions and item management. Aegon’s purpose is to assistance people grasp a lifetime of financial security. More information on aegon.com/about .
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Forward-looking statementsÂ Â
The statements contained in this request that are not chronological contribution are forward-looking statements as tangible in a US Private Securities Litigation Reform Act of 1995. The following are difference that brand such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, is confident, will, and identical expressions as they describe to Aegon. These statements are not guarantees of destiny opening and engage risks, uncertainties and assumptions that are formidable to predict. Aegon undertakes no requirement to publicly refurbish or correct any forward-looking statements. Readers are cautioned not to place undue faith on these forward-looking statements, that merely simulate association expectations during a time of writing. Actual formula might differ materially from expectations conveyed in forward-looking statements due to changes caused by several risks and uncertainties. Such risks and uncertainties embody though are not singular to a following:
- Changes in ubiquitous mercantile conditions, quite in the United States, the Netherlands and a United Kingdom;
- Changes in a opening of financial markets, including rising markets, such as with courtesy to:
– The magnitude and astringency of defaults by issuers in Aegon’s bound income investment portfolios;
– The effects of corporate bankruptcies and/or accounting restatements on a financial markets and a ensuing decrease in a value of equity and debt bonds Aegon holds; and
– The effects of disappearing creditworthiness of certain private zone bonds and a ensuing decrease in a value of supervision bearing that Aegon holds;
- Changes in a opening of Aegon’s investment portfolio and decrease in ratings of Aegon’s counterparties;
- Consequences of a intensity (partial) break-up of a euro;
- Consequences of a expected exit of a United Kingdom from a European Union;
- The magnitude and astringency of insured detriment events;
- Changes inspiring longevity, mortality, morbidity, diligence and other factors that might impact a profitability of Aegon’s word products;
- Reinsurers to whom Aegon has ceded poignant underwriting risks might destroy to accommodate their obligations;
- Changes inspiring seductiveness rate levels and stability low or fast changing seductiveness rate levels;
- Changes inspiring banking sell rates, in sold a EUR/USD and EUR/GBP sell rates;
- Changes in a accessibility of, and costs compared with, liquidity sources such as bank and collateral markets funding, as good as conditions in a credit markets in ubiquitous such as changes in borrower and counterparty creditworthiness;
- Increasing levels of foe in the United States, the Netherlands, a United Kingdom and rising markets;
- Changes in laws and regulations, quite those inspiring Aegon’s operations’ ability to sinecure and keep pivotal personnel, taxation of Aegon companies, a products Aegon sells, and a lure of certain products to a consumers;
- Regulatory changes relating to a pensions, investment, and word industries in a jurisdictions in that Aegon operates;
- Standard environment initiatives of supranational customary environment bodies such as a Financial Stability Board and a International Association of Insurance Supervisors or changes to such standards that might have an impact on informal (such as EU), inhabitant or US sovereign or state turn financial law or a focus thereof to Aegon, including a nomination of Aegon by a Financial Stability Board as a Global Systemically Important Insurer (G-SII);
- Changes in patron function and open opinion in ubiquitous associated to, among other things, a form of products Aegon sells, including legal, regulatory or blurb prerequisite to accommodate changing patron expectations;
- Acts of God, acts of terrorism, acts of fight and pandemics;
- Changes in a policies of executive banks and/or governments;
- Lowering of one or some-more of Aegon’s debt ratings released by famous rating organizations and a inauspicious impact such movement might have on Aegon’s ability to lift collateral and on a liquidity and financial condition;
- Lowering of one or some-more of insurer financial strength ratings of Aegon’s word subsidiaries and a inauspicious impact such movement might have on a reward writings, process retention, profitability and liquidity of a word subsidiaries;
- The outcome of a European Union’s Solvency II mandate and other regulations in other jurisdictions inspiring a collateral Aegon is compulsory to maintain;
- Litigation or regulatory movement that could need Aegon to compensate poignant indemnification or change a approach Aegon does business;
- As Aegon’s operations support formidable exchange and are rarely contingent on a correct functioning of information technology, a mechanism complement disaster or confidence crack might miscarry Aegon’s business, repairs a repute and adversely impact a formula of operations, financial condition and money flows;
- Customer responsiveness to both new products and placement channels;
- Competitive, legal, regulatory, or taxation changes that impact profitability, a placement cost of or direct for Aegon’s products;
- Changes in accounting regulations and policies or a change by Aegon in requesting such regulations and policies, willingly or otherwise, that might impact Aegon’s reported formula and shareholders’ equity;
- Aegon’s projected formula are rarely supportive to formidable mathematical models of financial markets, mortality, longevity, and other energetic systems theme to shocks and indeterminate volatility. Should assumptions to these models after infer incorrect, or should errors in those models shun a controls in place to detect them, destiny opening will change from projected results;
- The impact of acquisitions and divestitures, restructurings, product withdrawals and other surprising items, including Aegon’s ability to confederate acquisitions and to obtain a expected formula and synergies from acquisitions;
- Catastrophic events, possibly manmade or by nature, could outcome in element waste and significantly miscarry Aegon’s business;
- Aegon’s disaster to grasp expected levels of gain or operational efficiencies as good as other cost saving and additional collateral and precedence ratio supervision initiatives; and
- This press recover contains information that qualifies, or might qualify, as inside information within a definition of Article 7(1) of a EU Market Abuse Regulation.
Further sum of intensity risks and uncertainties inspiring Aegon are described in a filings with a Netherlands Authority for a Financial Markets and a US Securities and Exchange Commission, including a Annual Report. These forward-looking statements pronounce usually as of a date of this document. Except as compulsory by any germane law or regulation, Aegon specifically disclaims any requirement or endeavour to recover publicly any updates or revisions to any forward-looking statements contained herein to simulate any change in Aegon’s expectations with courtesy thereto or any change in events, conditions or resources on that any such matter is based.
Debora de Laaf
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