Aegon to Sell Unirobe Meeùs Groep
The transaction is expected to result in an increase of Solvency II capital of approximately EUR 225 million, which will be retained in
"I am delighted that we have found a new strong owner with an international footprint for UMG's customers and staff," said
The divestment will lead to a book gain of approximately
The transaction is subject to works council advice and normal regulatory approvals and is expected to close in the fourth quarter of 2017.
About UMG
UMG provides independent advice and insurance products to approximately 580,000 retail and 75,000 wholesale customers and is a top-3 independent financial advisory group in
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Forward-looking statements
The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify 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 similar expressions as they relate to
- Changes in general economic conditions, particularly in
the United States ,the Netherlands and theUnited Kingdom ; - Changes in the performance of financial markets, including emerging markets, such as with regard to:
- The frequency and severity of defaults by issuers inAegon's fixed income investment portfolios;
- The effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securitiesAegon holds; and
- The effects of declining creditworthiness of certain private sector securities and the resulting decline in the value of government exposure thatAegon holds; - Changes in the performance of
Aegon's investment portfolio and decline in ratings ofAegon's counterparties; - Consequences of a potential (partial) break-up of the euro;
- Consequences of the anticipated exit of the
United Kingdom from theEuropean Union ; - The frequency and severity of insured loss events;
- Changes affecting longevity, mortality, morbidity, persistence and other factors that may impact the profitability of
Aegon's insurance products; - Reinsurers to whom
Aegon has ceded significant underwriting risks may fail to meet their obligations; - Changes affecting interest rate levels and continuing low or rapidly changing interest rate levels;
- Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP exchange rates;
- Changes in the availability of, and costs associated with, liquidity sources such as bank and capital markets funding, as well as conditions in the credit markets in general such as changes in borrower and counterparty creditworthiness;
- Increasing levels of competition in
the United States ,the Netherlands , theUnited Kingdom and emerging markets; - Changes in laws and regulations, particularly those affecting
Aegon's operations' ability to hire and retain key personnel, taxation ofAegon companies, the productsAegon sells, and the attractiveness of certain products to its consumers; - Regulatory changes relating to the pensions, investment, and insurance industries in the jurisdictions in which
Aegon operates; - Standard setting initiatives of supranational standard setting bodies such as the Financial Stability Board and the
International Association of Insurance Supervisors or changes to such standards that may have an impact on regional (such as EU), national or US federal or state level financial regulation or the application thereof toAegon , including the designation ofAegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII); - Changes in customer behavior and public opinion in general related to, among other things, the type of products
Aegon sells, including legal, regulatory or commercial necessity to meet changing customer expectations; - Acts of God, acts of terrorism, acts of war and pandemics;
- Changes in the policies of central banks and/or governments;
- Lowering of one or more of
Aegon's debt ratings issued by recognized rating organizations and the adverse impact such action may have onAegon's ability to raise capital and on its liquidity and financial condition; - Lowering of one or more of insurer financial strength ratings of
Aegon's insurance subsidiaries and the adverse impact such action may have on the premium writings, policy retention, profitability and liquidity of its insurance subsidiaries; - The effect of the
European Union's Solvency II requirements and other regulations in other jurisdictions affecting the capitalAegon is required to maintain; - Litigation or regulatory action that could require
Aegon to pay significant damages or change the wayAegon does business; - As
Aegon's operations support complex transactions and are highly dependent on the proper functioning of information technology, a computer system failure or security breach may disruptAegon's business, damage its reputation and adversely affect its results of operations, financial condition and cash flows; - Customer responsiveness to both new products and distribution channels;
- Competitive, legal, regulatory, or tax changes that affect profitability, the distribution cost of or demand for
Aegon's products; - Changes in accounting regulations and policies or a change by
Aegon in applying such regulations and policies, voluntarily or otherwise, which may affectAegon's reported results and shareholders' equity; Aegon's projected results are highly sensitive to complex mathematical models of financial markets, mortality, longevity, and other dynamic systems subject to shocks and unpredictable volatility. Should assumptions to these models later prove incorrect, or should errors in those models escape the controls in place to detect them, future performance will vary from projected results;- The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including
Aegon's ability to integrate acquisitions and to obtain the anticipated results and synergies from acquisitions; - Catastrophic events, either manmade or by nature, could result in material losses and significantly interrupt
Aegon's business; Aegon's failure to achieve anticipated levels of earnings or operational efficiencies as well as other cost saving and excess capital and leverage ratio management initiatives; and- This press release contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Further details of potential risks and uncertainties affecting
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