The Hague, Netherlands-headquartered insurer Aegon has completed the acquisition of Nationwide Towarzystwo Ubezpieczen na Zycie S.A. from Nationwide Insurance Company.
Life insurance specialist Aegon has sealed the purchase of the Polish outfit in just four months following the signing of the initial agreement on June 6, 2005. Financial details were not disclosed.
The acquisition reflects the Dutch insurance provider’s previously stated desire to expand further in central and eastern Europe. Currently Aegon is one of the largest life cover providers worldwide, however its business remains concentrated in its domestic Dutch market, the US and UK.
The purchase of Nationwide Towarzystwo will compliment Aegon’s existing eastern European operations in Hungary, Slovakia and Czech Republic, while providing it with a footprint in the developing Polish market for the first time.
Nationwide Towarzystwo Ubezpieczen will be renamed Aegon Towarzystwo Ubezpieczen na Zycie S.A. (Aegon Poland).