Aegon buys Ukraine life insurer Fidem

AMSTERDAM Wed Dec 5, 2012 2:34am EST

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AMSTERDAM Dec 5 (Reuters) - Dutch insurer Aegon said on Wednesday it has agreed to buy Ukrainian insurance company Fidem Life to strengthen its position in the developing central and Eastern European markets.

Aegon said it will buy 100 percent of Fidem Life, which it described as the fifth largest life insurer in the Ukraine, from local private equity firm Horizon Capital.

The deal is expected to close in the first quarter next year, Aegon said in a statement without disclosing financial details. (Reporting by Gilbert Kreijger; Editing by Hans-Juergen Peters)

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