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AON to acquire UNIROBE MEEUS Groep from AEGON for EUR 295 million

AON Groep Nederland announced it has entered into an agreement to acquire UNIROBE MEEUS Groep - UMG (an independent financial advisory group) from AEGON for EUR 295 million.

The transaction is subject to works council advice and approval by the Dutch regulators, and is expected to close in the fourth quarter of 2017.

AEGON representatives pointed out that the transaction is expected to result in an increase of Solvency II capital of approximately EUR 225 million, which will be retained in AEGON the Netherlands. This will improve the Solvency II ratio of AEGON the Netherlands by an estimated 6%-points.

"Through this divestment, we increase our financial flexibility and it allows us to focus on those businesses that are core to our strategy. I would like to thank UMG's employees and management for their many contributions", said Alex WYNAENDTS, CEO of AEGON. "This transaction should be seen in the context of the evolving insurance landscape in the Netherlands and our strategy to optimize our portfolio".

AON representatives affirmed that following the completion of the transaction, AON will be the leading insurance broker and risk advisor in all business-to-business market segments in the Netherlands.

Marc van NULAND, Country Manager of AON Netherlands said: "This acquisition will drive value for clients of both UMG and AON as we combine the knowledge and experience of UMG with AON's teams in the Netherlands, as well as with our global network."

UMG provides independent advice and insurance products to approximately 580,000 retail and 75,000 wholesale customers and is a top-3 independent financial advisory group in the Netherlands.

Author: Vlad BOLDIJAR on 09.08.2017

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