Aegon, Caixa Terrasse in insurance joint venture

AMSTERDAM, Aug 29 (Reuters) - Dutch insurer Aegon NV (AEGN.AS) said on Friday it is buying 50 percent of the insurance business of Spain's Caixa Terrassa (S0485.MC) for 190 million euros ($281 million) as it seeks newer markets to fuel growth.

The Caixa Terrassa Vida joint venture, focused on life insurance, pension and health insurance services, will make Aegon the sixth largest life insurer in Spain, the company said in a statement.

"Based on performance of the joint venture, Aegon may pay an additional consideration to Caixa Terrassa," the Hague-based insurance firm said. (Reporting by Reed Stevenson)