Aegon completes joint venture with Brazilian insurer

Aegon has completed its acquisition of a 50 per cent stake in Brazilian life insurer Mongeral S.A. Seguros
e Previdência.

The deal, originally announced last October, strengthens Aegon’s presence in Latin America, an area it identifies as having significant potential for growth.

Aegon says the joint venture is part of a broader strategy to allocate more of the group’s resources to businesses that offer attractive growth and higher returns.

CEO Alex Wynaendts says: “Aegon welcomes the opportunity to partner with one of Brazil’s leading life insurance and pension providers, strengthening our position in this important growth region.”

Aegon’s existing operations in Brazil include Aegon direct marketing services and reinsurer Transamerica
Reinsurance.

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