Insurance company Aegon has announced that Aegon Hungary has signed an agreement to purchase Uniqa Asset Management Company and Heller-Saldo 2000 Pension Fund Management Company, both Hungarian entities, from Uniqa Insurance Company.
The shares will be transferred to Aegon by June 30, 2008, subject to regulatory approvals. Aegon said that the transaction is in line with its growth strategy to strengthen its position in the developing pension and asset management markets in central and eastern Europe.
Aegon Hungary’s assets under management for the pension business currently amount to E1.6 billion. Following the acquisition, assets under management will increase by approximately E300 million.