Netherlands News

Aegon, Transamerica Owner, Sells $4.4B UK Annuity Portfolio to Legal & General

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., divested the final 3 billion pounds ($4.4 billion) of annuities from its U.K. portfolio to Legal & General Group Plc. The transaction, which covers 27,000 policyholders, will release another 275 …

Delta Lloyd’s Solvency II Ratio Declines to 127% on Fall in Interest Rates

Delta Lloyd NV, the Dutch insurer that last month completed a rights offer to shore up its capital buffers, said its ability to absorb losses weakened in the first quarter. The Solvency II ratio, a measure of an insurer’s strength …

ING Completes Exit From Former Insurer Unit, NN Group, with $1.6B Stock Sale

ING Groep NV sold its remaining stake in NN Group NV at a loss as the Dutch bank completed its drawn-out exit from the insurance business. The bank sold 45.7 million shares, representing a 14.1 percent stake, for about 1.4 …

Aegon to Sell $8.5B of U.K. Annuity Portfolio to Rothesay Life, to Free Up Capital

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., agreed to sell two-thirds of its U.K. annuity portfolio to Rothesay Life Ltd., helping to boost capital buffers under new regulations. Aegon will initially reinsure 6 billion pounds ($8.5 billion) …

Delta Lloyd Says It Didn’t Offer Incentives to Get Support for $738M Rights Offer

Delta Lloyd NV said it didn’t offer any fees or “goodies” to Fubon Financial Holding Co., one of its largest shareholders, in exchange for support for a 650 million-euro ($738 million) rights offer. “Delta Lloyd has not granted any incentives …

Update: Delta Lloyd Shareholders Approve Contested Plan to Raise $720M

Delta Lloyd NV rose to the highest since December after shareholders approved a contested plan to raise 650 million euros ($720 million) in a rights offer to improve its capital levels. The stock gained as much as 6.6 percent in …

Update: Delta Lloyd Rejects Demand from Top Shareholder to Delay Rights Offer

Delta Lloyd swiftly rejected a demand from top shareholder Highfields Capital to postpone a vote on a 650 million euro ($706 million) rights issue the Dutch insurer says is the only way it can comply with new European capital requirements. …

Largest Delta Lloyd Shareholder, Highfields, Will Vote Against Rights Offer

Highfields Capital Management LP, the largest shareholder in Delta Lloyd NV, will vote against the Dutch insurer’s plan to raise 650 million euros ($706 million) in a rights offer it called “unnecessary.” “Their actions are so detrimental to shareholders, and …

Delta Lloyd Cuts Size of Rights Offer to $715 Million to Placate Investors

Delta Lloyd NV surged as much as 12 percent in Amsterdam trading after the Dutch insurer bowed to investor pressure and cut the size of a rights offer to 650 million euros ($715 million). “Following months of analysis, today’s announcement …

Update: Aegon Reports Q4 Pretax Profit of $534.9M, Down 14% on U.S. Income

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., fell in Amsterdam trading after decline in U.S. income pushed down fourth-quarter pre-tax earnings. The stock dropped as much as 4.5 percent and was down 3.2 percent as of 10:25 a.m. Underlying …