Aegon, the Dutch insurer, has initiated a strategic review of its UK division, indicating potential divestments. The announcement was made during a recent capital markets day event.
Aegon Considers Sale of UK Division
In this review, Aegon is evaluating the possibility of divesting its UK operations. The British business encompasses several key platforms, including:
- Aegon Retirement Choices (ARC)
- The Aegon Platform
- Workplace pension services
Shift to the US Market
As part of its strategic shift, Aegon will relocate its head office to the United States. Additionally, Aegon plans to rebrand its holding company as Transamerica. This transition marks a significant change in the company’s operational focus.
The decision to review the UK division aims to enhance Aegon’s overall market positioning. The strategic divestment could lead to a more streamlined business model focused on other profitable regions.
