Aegon heralds shift away from US emphasis with JP Morgan capital deal
The Hague-based insurer Aegon has released $650 million (£398 million) in regulatory capital from its US operations through a capital management deal with US bank JP Morgan, as part of a long-term strategy of shrinking the proportion of its business based in the world’s largest economy.
Gerbrand Nijman, Aegon’s group director of investor relations, said as well as shoring up the global business in the wake of the financial crisis – the company was forced to call on a €3 billion (£2.7 billion)
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