An update of Aegon’s sale of its Central and Jap European business enterprise to VIG

By Laverne J. Tiffany 4 years ago

Aegon has taken note of an announcement issued these days by Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG). The announcement issued by VIG reads as follows: “Acquisition of the Aegon entities prevented by Hungary for the minute. VIENNA Insurance Team AG Wiener Versicherung Gruppe been given a decree yesterday afternoon in which the Hungarian Ministry of the Inside declared that the supposed acquisition by a overseas trader of the Aegon organizations in Hungary is denied. As part of the acceptance method, Vienna Coverage Team has been in constructive talks with the liable Hungarian Minister of Finance since January 2021. The decree is in contradiction with the system of the talks to date. Vienna Insurance policies Team expects that this situation will be settled positively in the close to upcoming.” Aegon will go on to get the job done with VIG to shut the transaction.

About Aegon

Aegon’s roots go back again extra than 175 decades – to the very first fifty percent of the nineteenth century. Considering that then, Aegon has developed into an intercontinental firm, with organizations in the Americas, Europe and Asia. These days, Aegon is a single of the world’s primary money expert services companies, offering everyday living coverage, pensions and asset administration. Aegon’s purpose is to help persons realize a life span of economical security. Extra data on aegon.com.

Forward-hunting statements

The statements contained in this doc that are not historical facts are forward-looking statements as defined in the US Personal Securities Litigation Reform Act of 1995. The subsequent are text that identify this sort of forward-looking statements: aim, believe that, estimate, goal, intend, may perhaps, count on, foresee, predict, undertaking, counting on, plan, continue, want, forecast, objective, need to, would, could, is assured, will, and equivalent expressions as they relate to Aegon. These statements are not ensures of foreseeable future overall performance and entail hazards, uncertainties and assumptions that are complicated to forecast. Aegon undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-seeking statements, which simply replicate organization expectations at the time of creating. Genuine benefits may well vary materially from expectations conveyed in ahead-seeking statements thanks to improvements brought on by different risks and uncertainties. This kind of pitfalls and uncertainties incorporate but are not restricted to the subsequent:

  • Improvements in normal economic and/or governmental disorders, particularly in the United States, the Netherlands and the United Kingdom

  • Changes in the efficiency of financial marketplaces, which includes rising marketplaces, this kind of as with regard to:

    • The frequency and severity of defaults by issuers in Aegon’s mounted cash flow expenditure portfolios

    • The outcomes of corporate bankruptcies and/or accounting restatements on the economic markets and the ensuing drop in the worth of equity and personal debt securities Aegon holds and

    • The consequences of declining creditworthiness of sure general public sector securities and the resulting decline in the worth of authorities publicity that Aegon holds

  • Alterations in the general performance of Aegon’s financial commitment portfolio and decline in ratings of Aegon’s counterparties

  • Decreasing of a single or a lot more of Aegon’s personal debt ratings issued by acknowledged rating corporations and the adverse impact such action could have on Aegon’s capacity to increase cash and on its liquidity and money ailment

  • Lowering of one particular or more of insurance provider monetary strength scores of Aegon’s insurance subsidiaries and the adverse influence this sort of motion might have on the published quality, coverage retention, profitability and liquidity of its insurance subsidiaries

  • The outcome of the European Union’s Solvency II specifications and other restrictions in other jurisdictions affecting the capital Aegon is needed to keep

  • Variations affecting desire rate amounts and continuing minimal or fast altering desire price levels

  • Alterations influencing forex trade charges, in certain the EUR/USD and EUR/GBP exchange charges

  • Alterations in the availability of, and prices linked with, liquidity resources these types of as lender and money marketplaces funding, as effectively as situations in the credit markets in basic such as variations in borrower and counterparty creditworthiness

  • Increasing ranges of competition in the United States, the Netherlands, the United Kingdom and emerging markets

  • Catastrophic situations, possibly artifical or by character, which include by way of illustration acts of God, functions of terrorism, acts of war and pandemics, could end result in materials losses and substantially interrupt Aegon’s small business

  • The frequency and severity of insured decline functions

  • Adjustments influencing longevity, mortality, morbidity, persistence and other elements that may well effect the profitability of Aegon’s insurance solutions

  • Aegon’s projected results are extremely delicate to advanced mathematical designs of economical markets, mortality, longevity, and other dynamic devices issue to shocks and unpredictable volatility. Ought to assumptions to these models later on show incorrect, or should glitches in people types escape the controls in position to detect them, long term performance will vary from projected outcomes

  • Reinsurers to whom Aegon has ceded major underwriting pitfalls may possibly fall short to satisfy their obligations

  • Improvements in consumer habits and general public opinion in general associated to, among other matters, the form of products and solutions Aegon sells, which include authorized, regulatory or business requirement to satisfy altering buyer expectations

  • Shopper responsiveness to each new products and solutions and distribution channels

  • As Aegon’s functions help sophisticated transactions and are hugely dependent on the good working of information and facts know-how, operational pitfalls this sort of as method disruptions or failures, safety or knowledge privateness breaches, cyberattacks, human mistake, failure to safeguard personally identifiable information, alterations in operational procedures or inadequate controls which include with regard to 3rd get-togethers with which we do business enterprise may well disrupt Aegon’s small business, harm its reputation and adversely have an impact on its benefits of operations, economic condition and hard cash flows

  • The effect of acquisitions and divestitures, restructurings, merchandise withdrawals and other strange items, like Aegon’s ability to integrate acquisitions and to get hold of the predicted effects and synergies from acquisitions

  • Aegon’s failure to reach anticipated amounts of earnings or operational efficiencies, as effectively as other administration initiatives connected to value cost savings, dollars cash at Keeping, gross monetary leverage and totally free funds movement

  • Improvements in the guidelines of central banking institutions and/or governments

  • Litigation or regulatory motion that could involve Aegon to pay back considerable damages or adjust the way Aegon does small business

  • Competitive, lawful, regulatory, or tax variations that influence profitability, the distribution cost of or desire for Aegon’s merchandise

  • Effects of an real or likely split-up of the European financial union in full or in section, or the exit of the United Kingdom from the European Union and opportunity outcomes if other European Union countries leave the European Union

  • Changes in laws and laws, significantly individuals impacting Aegon’s operations’ potential to employ the service of and retain critical staff, taxation of Aegon businesses, the products Aegon sells, and the attractiveness of specified merchandise to its buyers

  • Regulatory improvements relating to the pensions, expense, and coverage industries in the jurisdictions in which Aegon operates

  • Standard location initiatives of supranational standard placing bodies these kinds of as the Financial Security Board and the Worldwide Affiliation of Insurance coverage Supervisors or adjustments to these types of standards that may possibly have an affect on regional (these as EU), countrywide or US federal or point out level financial regulation or the software thereof to Aegon, like the designation of Aegon by the Fiscal Security Board as a World-wide Systemically Significant Insurance company (G-SII) and

  • Adjustments in accounting rules and policies or a modify by Aegon in applying such rules and policies, voluntarily or if not, which may possibly affect Aegon’s claimed outcomes, shareholders’ fairness or regulatory cash adequacy levels.

This document incorporates data that qualifies, or could qualify, as inside of information and facts within the meaning of Article 7(1) of the EU Industry Abuse Regulation (596/2014). Even further aspects of prospective pitfalls and uncertainties impacting Aegon are explained in its filings with the Netherlands Authority for the Economical Markets and the US Securities and Trade Fee, like the Yearly Report. These forward-seeking statements communicate only as of the day of this document. Other than as expected by any relevant law or regulation, Aegon expressly disclaims any obligation or endeavor to launch publicly any updates or revisions to any ahead-looking statements contained herein to replicate any alter in Aegon’s anticipations with regard thereto or any adjust in situations, disorders or situations on which any these types of statement is based mostly.

Watch supply model on businesswire.com: https://www.businesswire.com/news/property/20210406006189/en/

Contacts

Media relations
Dick Schiethart

+31() 70 344 8821
[email protected]

Trader relations
Jan Willem Weidema

+31() 70 344 8028
[email protected]

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