AEGON Receives Approval for Pension Fund Merger in Poland
10 May 2008 - 1:46AM
PR Newswire (US)
THE HAGUE, The Netherlands, May 9 /PRNewswire-FirstCall/ -- AEGON
has received approval from the regulatory authorities in Poland for
the planned merger of its pension fund management company PTE AEGON
with BRE Bank's PTE Skarbiec-Emerytura. As part of the merger
agreement, AEGON will acquire BRE Bank's shareholding in the newly
combined pension fund. This process is expected to be complete
before the end of 2008. The merger, agreed in June last year, will
strengthen AEGON's position both in the Polish pension market and
in the Central and Eastern European region as a whole. With the
merger, AEGON will become Poland's fifth largest pension fund
manager, with a market share of approximately 6%. The fund has some
800,000 members and more than EUR 1.8 billion in assets under
management. AEGON has been present in Poland since 2005 and has
both pension and life insurance activities in the country. AEGON
sees Central and Eastern Europe as an important source of future
growth and over recent years the Group has expanded its operations
in the region. Currently AEGON has businesses in five countries -
Hungary, the Czech Republic, Slovakia, Romania and Poland - and in
February this year announced a new acquisition in Turkey. At
present, AEGON pension funds in Central and Eastern Europe have a
total of 1.9 million members. About AEGON AEGON is one of the
world's largest life insurance and pension groups, and a strong
provider of investment products. AEGON empowers local business
units to identify and provide products and services that meet the
evolving needs of customers, using distribution channels best
suited to local markets. AEGON takes pride in balancing a local
approach with the power of an expanding global operation. With
headquarters in The Hague, the Netherlands, AEGON companies employ
approximately 30,000 people worldwide. AEGON's businesses serve
millions of customers in over twenty markets throughout the
Americas, Europe, and Asia, with major operations in the United
States, the Netherlands and the United Kingdom. Respect, quality,
transparency and trust constitute AEGON's core values as the
company continually strives to meet the expectations of customers,
shareholders, employees and business partners. AEGON is driven to
deliver new thinking with the ambition to be the best in the
industry. Media relations +31-(0)70-344-83-44 Investor relations
+31-(0)70-344-83-05 +1-877-548-96-68 - toll free USA only Website
http://www.aegon.com/ DATASOURCE: AEGON N.V. CONTACT: Media
relations: +31-(0)70-344-83-44. Investor relations:
+31-(0)70-344-83-05, +1-877-548-96-68 - toll free USA only
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