December 28, 2017 / 7:10 AM / in 6 months

BRIEF-Aegon To Divest Additional Block Of U.S. Run-Off Businesses

Dec 28 (Reuters) - Aegon NV:

* AEGON TO DIVEST ADDITIONAL BLOCK OF US RUN-OFF BUSINESSES

* AEGON NV SAYS HAS AGREED TO DIVEST A BLOCK OF LIFE REINSURANCE BUSINESS TO SCOR AND TO DISSOLVE A RELATED CAPTIVE INSURANCE COMPANY

* ‍UNDER TERMS OF AGREEMENT, AEGON’S TRANSAMERICA LIFE SUBSIDIARIES WILL REINSURE APPROXIMATELY USD 750 MILLION OF LIABILITIES TO SCOR

* AEGON NV SAYS TRANSACTION HAS A ONE-TIME BENEFIT OF APPROXIMATELY $75 MLN ON TRANSAMERICA’S CAPITAL POSITION​

* ‍TRANSACTION IS EXPECTED TO RESULT IN A PRE-TAX IFRS LOSS OF APPROXIMATELY USD 125 MILLION​ Source text for Eikon: [ID: nBwbH9yHna] Further company coverage:

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