General insurance provider Aegon has reached an agreement to acquire Optas, a Dutch life insurance firm specializing in employee benefit products and services, for a net consideration of approximately E100 million.
<p>The acquisition of Optas will significantly strengthen Aegon's leading position in the group pension market in the Netherlands. Optas has strong relationships with companies and employees in the ports of Rotterdam and Amsterdam that will be particularly advantageous for Aegon in helping the group broaden its overall client base, as well as providing the opportunity to offer additional services. <br /><br />The combination of Optas and Aegon's existing pension activities is also expected to lead to a more efficient platform to serve the group pension market. <br /><br />Under the terms of the deal, Aegon will acquire Optas for a gross amount of approximately E1.3 billion. Taking into account the excess capital of Optas, the net consideration is estimate to be around E100 million. <br /><br />Optas is a life insurer with a unique position in the Dutch ports, said Johan van der Werf, CEO of Aegon The Netherlands. I am proud that this company will become part of Aegon. We would like to leverage the pension expertise of Optas in close cooperation with Aegon The Netherlands to further strengthen the two companies' pension activities. Optas' customers can be confident that, working together, Aegon and Optas will continue to manage their pension businesses to the highest possible standards.<br /><br />The transaction is subject to the appropriate regulatory approvals.</p>