Key Developments: Aegon NV (AED)
25.42USD
21 May 2013
$0.00 (+0.00%)
$25.37
$25.42
$25.45
$25.41
55,692
43,753
$26.99
$20.78
Latest Key Developments (Source: Significant Developments)
Aegon NV To Exit Caja de Ahorros del Mediterraneo Partnership; Completes Restructuring Of Spanish Business
Aegon NV announced that it has reached an agreement with Banco Sabadell to sell its 50% stake in its life insurance partnership originally established with Caja de Ahorros del Mediterráneo (CAM) for a consideration of EUR 449.5 million. This transaction with Banco Sabadell completes Aegon's restructuring of its business in Spain after announcing plans last year to exit certain partnerships as a result of the ongoing consolidation within the bank sector. The Company maintains a long-term commitment to Spain and has recently reinforced its market position with an exclusive 25-year strategic partnership with Banco Santander to distribute life and general insurance products through its network of over 4,600 bank branches. This long-term alliance with Spain's financial group provides access to a potential client base of twelve million individuals across the country. The Company will also continue to distribute its life insurance and protection products through its network of agents, as well as through the branch networks of Liberbank and Caja Badajoz, the company's other two joint venture partners. The transaction with Banco Sabadell is expected to close in the third quarter of 2013, subject to regulatory approval. Full Article
Aegon NV To Appoint PwC as New Independent Auditor
Aegon NV announced that the Supervisory Board is to propose to appoint PwC as the Company's independent auditor for the Annual Accounts 2014 through 2016, during the upcoming Annual General Meeting of Shareholders on May 15, 2013. This recommendation is the result of a competitive tender process that the Company conducted, consistent with its corporate governance principles. The Supervisory Board will also propose to reappoint the Company's current auditor, Ernst & Young, for the financial year 2013. Full Article
Aegon NV Proposes Final Dividend
Aegon NV announced that the Supervisory Board will, absent unforeseen circumstances, propose a final dividend for 2012 of EUR0.11 per common share. The final dividend will be paid in cash or stocks at the election of the shareholder. The value of the stock dividend will be approximately equal to the cash dividend. If the proposed dividend is approved by shareholders, Aegon shares will be quoted ex-dividend on May 17, 2013. The record date for the dividend will be May 21, 2013. Full Article
Aegon NV Sells 50% Interest in Joint Venture with Unnim Banc-DJ
Dow Jones reported that Aegon NV has sold its 50% interest in Spanish joint venture to its partner Unnim Banc for EUR 353 million. The sale is expected to be completed in second quarter of 2013. Full Article
Aegon NV to Buy Romanian Life Insurance Operations from Achmea-Reuters News
Reuters News reported that Aegon NV has agreed to buy the Romanian life insurance and pension operations from Dutch peer Achmea, without disclosing financial details. The transaction is expected to close in the second half of 2013, pending regulatory approval. Full Article
Banco Santander SA To Form Strategic Alliance With Aegon NV
Banco Santander SA (Santander) announced that it has entered into partnership with the insurer Aegon NV (Aegon) to form a strategic alliance which will allow them to strengthen their bankassurance business in Spain through the Santander branch networks. Santander will create two new insurance companies, one for life and one for general insurance, in which Aegon will take a 51% stake. Santander and Aegon will share responsibility for managing them. Santander will keep a 49% stake and sign a 25-year contract to distribute their insurance products via its branch networks. The deal excludes savings, health and auto insurance products, which will continue to be managed by Santander. Santander said the transaction would generate it a gross gain of EUR 410 million. The transaction, which requires authorizations from Spain's Office for Insurance and Pensions and from the European competition authorities, is expected to close in the first half of 2013. Full Article
Aegon NV Announces Acquisition of Fidem Life
Aegon NV announced the acquisition of Fidem Life, the life insurance company in Ukraine. Under the terms of the acquisition, the Company will acquire 100% of Fidem Life from local private equity company Horizon Capital. The transaction is expected to close in the first quarter of 2013, pending regulatory approval. Fidem Life will be rebranded to Aegon Ukraine and will be integrated into the governance and management structure of Aegon CEE. Full Article
Aegon NV's CFO Jan Nooitgedagt to Retire; Darryl Button Named as Successor
Aegon NV announced that Chief Financial Officer Jan Nooitgedagt has decided to retire at the end of his current term, in line with Aegon's retirement arrangements for Executive Board members. The Supervisory Board of Aegon N.V. will propose the appointment of Darryl Button as his successor and as a member of the Executive Board at Aegon's Annual General Meeting of Shareholders on May 15, 2013. Full Article
AFC Ajax NV Announces Details of Sponshorship Agreement with Ageon NV-DJ
Dow Jones reported that AFC Ajax NV announced that the Company has reached an agreement with its main sponsor Aegon NV on new terms of the sponsor agreement. The parties agreed that the main sponsorship runs until June 30, 2014, while Ageon NV will remain a partner to the Company for two another seasons. The new agreement will run until June 30, 2016 with the possibility to extend the partnership until June 30, 2018. Further details were not disclosed. Full Article
Aegon NV Launches New Bank Knab-DJ
Dow Jones reported that Aegon NV has launched new Dutch consumer bank, Knab. Knab is an internet bank that has been founded with financial support and a bank permit of the Company. The services provided by Knab consists of worldwide payments, cash withdrawals, various savings products, digital cash book, asset management, financial planning and mobile banking. Full Article
UPDATE 1-Insurer Aegon's net profit tumbles on equity hedging
AMSTERDAM, May 8 - Dutch insurer Aegon said first-quarter net profit fell nearly two thirds because of hedging losses resulting from an unexpectedly strong rise in U.S. stocks, particularly those in the S&P 500 index.
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